Report: Kraft, Jones retain DraftKings investments

Reuters

New England Patriots owner Robert Kraft and Dallas Cowboys counterpart Jerry Jones retained their stakes in DraftKings, even as the company shifts its sights toward traditional sports betting, according to a report from ESPN on Tuesday.

Kraft's and Jones' stakes in DraftKings are said to be less than 5 percent, according to the report.

NFL spokesman Brian McCarthy told ESPN that current league policy "enables personnel to own equity interest in an entity that generates less than a third of its revenue from gambling-related operations."

DraftKings has primarily been a fantasy sports provider in recent years, but the company intends to be more focused on sports betting in the next two to three years, CEO Jason Robins told Yahoo.

In the wake of the Supreme Court's decision to overturn the Professional and Amateur Sports Protection Act of 1992 earlier this year, DraftKings became the first company to launch a mobile sports betting app in New Jersey in August.

Jones' stake in DraftKings is via the company Legends, which he co-owns with the New York Yankees' Steinbrenners, and not the team, a Cowboys spokesman told ESPN. The Patriots declined comment for the report.

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