NBA Legend Michael Jordan Adds Another Sports Venture in His Investment Portfolio

In The Last Dance, Michael Jordan shared his love for gambling and betting during his extra time. The NBA legend has no love lost for betting, as he recently bought an equity stake in DraftKings, also becoming a special advisor for the company.

However, Jordan is not someone who bets on games. In The Last Dance, Jordan clarified,

“I never bet on games. I only bet on myself, and that was golf. Do I like to play blackjack? Yeah, I like playing blackjack. There’s no laws with that. The league did call me and asked questions about it. And I told them exactly what was happening.”

DraftKings did not reveal the size of the six-time NBA champion’s equity interest.

However, Jason Robins, CEO, and co-founder of the sports betting company, revealed his thoughts on Jordan becoming a part of DraftKings.

“Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur.

“The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team.” 

Michael Jordan’s role as a special advisor is clear. He will provide insights into company strategy, product development, marketing activities, and more.

Is Michael Jordan permitted to invest in a sport betting company?

Even though MJ has been retired for almost two decades, he is still the owner of Charlotte Hornets. Becoming an equity stake owner could mean a conflict of interest for him. However, according to ESPN, there are official guidelines for NBA owners who want to be in business with sports betting companies.

“NBA team investors, including governors, are permitted to have involvement with sports betting and fantasy sports businesses, subject to safeguards required under league rules to prevent actual or perceived conflicts of interest,” an NBA spokesperson reported to ESPN.

Well, if MJ follows the league rules, then this situation shouldn’t be an issue for him. Knowing Jordan, he wouldn’t do anything to tarnish his image as the Hornets’ owner.

Moreover, the Charlotte Hornets have the #3 pick in the 2020 NBA draft. The pick can mean a potential franchise player for the squad. After Kemba Walker’s departure, the Hornets are in a need of an NBA prospect with superstar potential.

Will 2020-21 finally be a good season for Michael Jordan’s Hornets?