Michael Jordan Assumes Advisory Role With Sportradar
Michael Jordan has taken his business ventures to the next step. Jordan has been known to make big investments outside of his playing career. Jordan is renowned for being a risk-taker as he bet big on a Gamestop short, but the loss does not seem to phase him one bit with his entrepreneurial background.
Jordan owns an entire car dealership in North Carolina and bought a majority stake in the Charlotte Bobcats (now Hornets) for 175 million back in 2010, which is estimated to be roughly over $1 billion today. In addition, he sold 20 percent of his stake in the Hornets in 2020. Now, Jordan has increased his stake in the company following his appointment, which is a leader in the sports betting industry.
With all of his investments that increased his net worth over time, Micheal Jordan has donated to a lot of charities.
Michael Jordan Assumes Advisory Role with Sportradar
Sportsradar which is also listed in the stock exchange (Nasdaq: SPAD) is a data provider that is ranked number one in the sports betting industry of business-to-business solutions to the global sports betting industry based on revenue. The company also offers sports entertainment and product services.
Jordan was an early investor in the company and his presence is likely to bring Sportsradar a bigger platform and greater success. With his new role within the company, Jordan will be a special advisor to Sportradar’s Board of Directors. This will be effective immediately as part of the agreement. This is a great time to bring in the NBA legend as over 900 companies use Sportsradar’s services and will continue to grow exponentially as more states legalize sports betting.
Jordan’s main role is to strengthen the company’s presence in the United States as he will provide guidance and strategic counsel for product development, marketing activities, and other key initiatives, according to a press release. The company is also finding ways to increase fan engagement as more competitors enter the various markets.
Carsten Koerl, Global CEO, Sportradar, stated,
” Over the past several years, the worlds of fandom, sports betting, and media have converged and, through his accomplishments on the court and in the boardroom, Michael sits at the intersection of these industries.”
“We are thrilled to now tap into his entrepreneurial savvy and business acumen as we develop the next wave of solutions and offerings that will maximize engagement across sports.”
Michael Jordan’s Expertise will Help Sportsradar Succeed in the Long-run
This is not the first time the NBA legend is taking an advisory role as he has a similar role with another sports betting giant also known as DraftKings. He provided guidance and strategic advice for the company as well. Jordan has also made a lot of bets during his playing career by playing golf and making other wagers with teammates and even opponents.
NBA owners are allowed in business ventures that have an involvement with fantasy sports. This is no indication of an owner or team in any shape or form gaining a competitive advantage during games. This is not seen as a conflict of interest according to the league.
It became official on September 14th, NBA legend Michael Jordan joined the Switzerland-based company’s directors, executive team, lead investors, and honored guests in the Nasdaq opening bell-ringing ceremony which was a huge landmark in the company’s progress. This was a celebration for Sportradar’s first day as a publicly traded company.
Sportsradar is exceeding expectations as the company currently has 2,300 full-time employees across nineteen different countries. They have been a reliable partner for two decades as they are an official partner of the NBA, NHL, MLB, NASCAR, and the FIFA Federation.
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