Report: Jerry Jones, Robert Kraft Retain DraftKings Investments

Mike Chiari@mikechiariFeatured ColumnistAugust 28, 2018

New England Patriots owner Robert Kraft, left, talks with Dallas Cowboys owner Jerry Jones, rightm before an NFL football game, Sunday, Oct. 11, 2015, in Arlington, Texas. (AP Photo/Tim Sharp)
Tim Sharp/Associated Press

Dallas Cowboys owner Jerry Jones and New England Patriots owner Robert Kraft reportedly both plan to retain their investments in DraftKings.

According to ESPN.com's David Purdum and Darren Rovell, Jones and Kraft have a stake of less than 5 percent each in the company.

Their reported decision to keep their DraftKings stake comes on the heels of DraftKings CEO Jason Robins telling Yahoo's Daniel Roberts that the company's focus is likely to shift from daily fantasy to sports betting in "two to three years."

Per Rovell and Purdum, NFL spokesman Brian McCarthy said the league "enables personnel to own equity interest in an entity that generates less than a third of its revenue from gambling-related operations."

That policy allows Jones and Kraft to own part of DraftKings currently, but if sports betting overtakes daily fantasy as the company's go-to revenue source as Robins predicted, it would force Jones and Kraft to sell off their stakes.

Sports betting was previously restricted across the United States, but following the Supreme Court's decision to overturn the Professional and Amateur Sports Protection Act of 1992 in May, states now have the option of embracing and monetizing sports betting.

According to Purdum and Rovell, Delaware, Mississippi and New Jersey have already opened sportsbooks, joining Nevada in the space.

DraftKings recently launched its sportsbook, but it is currently only available in New Jersey.

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