NBA legend Michael Jordan is taking an …

NBA legend Michael Jordan is taking an equity stake in DraftKings in exchange for becoming a special adviser to the sports betting and fantasy sports company. Jordan is the chairman of Hornets Sports and Entertainment, the ownership group of the Charlotte Hornets. He will provide guidance and strategic advice to DraftKings’ board of directors, according to a Wednesday morning news release. “Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” Jason Robins, CEO and co-founder of DraftKings, said in the release. “The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team.”