The NBA legend and Charlotte Hornets owner will become a special adviser to the Sportradar board of directors, according to a release from the company. He will also increase his equity in the company, which he has held since 2015.
Though financial details weren’t released, Jordan had less than 5% of the company, per SEC filings from earlier this month.
“Not only is Michael Jordan one of the most iconic sports figures of all time, but he is a legendary leader who believes in Sportradar’s mission to enhance fan engagement through our fully integrated technology and services platform,” Sportradar chairman Jeffery Yabuki said in a statement. “We are thrilled to have Michael contribute to Sportradar’s business efforts moving forward.”
Jordan was among the first U.S. team owners to invest in Sportradar, joining Mark Cuban (Dallas Mavericks) and Revolution Growth, a fund backed by Ted Leonsis (Washington Wizards/Capitals). Jeffrey Lurie (Philadelphia Eagles) is also an investor, as is the NFL.
Jordan was part of the group that rang the opening bell when Sportradar (NASDAQ: SRAD) had its first day of trading earlier this month. He is also an adviser to the board of DraftKings (NASDAQ: DKNG).
Sportradar shares jumped 3.5% immediately following the news.