Harry Evans Sloan
DraftKingsAbout Harry Evans Sloan
Harry Evans Sloan, age 75, has served on DraftKings’ Board since April 2020 and is Vice Chairman of the Board. He is a former Chairman and CEO of MGM and founder of SBS Broadcasting and New World Entertainment, with extensive SPAC sponsorship and board experience; he holds a J.D. from Loyola Law School and a B.A. from UCLA, and is an Associate Professor at UCLA Anderson .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Metro-Goldwyn-Mayer, Inc. | Chairman & CEO | Prior role (dates not specified) | Led studio operations |
| SBS Broadcasting, S.A. | Founder | Prior role | Built successful media company |
| New World Entertainment Ltd. | Founder | Prior role | Built successful media company |
| Diamond Eagle Acquisition Corp. (DEAC) | Founding Investor | IPO May 2019; DKNG merger Apr 2020 | Vehicle that combined with DraftKings |
| Flying Eagle Acquisition Corp. | CEO & Chairman | IPO Mar 2020; merged with Skillz Dec 2020 | Led SPAC execution |
| Soaring Eagle Acquisition Corp. (SRNG) | Chairman & Founder | IPO Feb 2021; merged with Ginkgo Bioworks May 2021 | Led $17.5B deal |
| Screaming Eagle Acquisition Corp. (SCRM) | Chairman & Founder | IPO Jan 2022; transaction to form Lionsgate Studios May 2024 | Sponsored $4.6B enterprise value combination |
| Double/Platinum Eagle Acquisition Corps. | Founding Investor | 2015–2019 | Led to WillScot Mobile Mini (WSC) via transactions |
External Roles
| Organization | Role | Exchange | Committees/Responsibilities |
|---|---|---|---|
| Bold Eagle Acquisition Corp. | Co-Chairman | NASDAQ: BEAG | IPO $250M in Oct 2024 |
| Lions Gate Entertainment Corp. | Director | NYSE: LGF | Compensation & Strategic Advisory Committees |
| Ginkgo Bioworks Holdings, Inc. | Director | NYSE: DNA | Board member post SPAC merger |
| Skillz Inc. | Director (former) | NYSE: SKLZ | Director until Aug 2022 |
| ZeniMax Media Inc. | Director (former) | Private (sold to MSFT 2021) | Board member until sale to Microsoft |
| USC/UCLA Boards | Council/Visitors | — | USC Gould Board of Councilors; UCLA Anderson Board of Visitors; Exec Board of UCLA TFT; USC President’s Leadership Council |
Board Governance
- Independence: Sloan is designated an independent director under NASDAQ and SEC rules .
- Leadership: DKNG is a controlled company; no lead independent director; CEO also serves as Chairman .
- Committees: Sloan chairs the Transaction Committee (members: Sloan, Murray, Walden, Moore) which held 4 meetings and 4 unanimous written consents in 2024 . He is not listed on the Audit Committee (Murray chair; Murray, Moore, Mosley; 4 meetings, 3 UWCs) nor on the Compensation Committee (Ryan Moore chair; Ryan Moore, Steven Murray, Jocelyn Moore; 5 meetings, 6 UWCs) .
- Attendance & Engagement: In 2024, the Board held 6 meetings and all directors attended at least 75% of Board and relevant committee meetings; non‑employee directors held 4 executive sessions .
Fixed Compensation
| Component | 2024 Program Terms | Notes |
|---|---|---|
| Annual Board Cash Retainer | $45,000 | Payable quarterly in arrears; retainers delivered in equity until DKNG is profitable |
| Committee Chair Retainers | Audit: $20,000; Compensation: $17,500; Nominating, Compliance & Risk, Transaction: $10,000 | Sloan eligible for $10,000 as Transaction Committee chair |
| Committee Member Retainers | Audit: $10,000; Compensation: $7,500; Nominating & Compliance & Risk: $5,000; Transaction: $10,000 |
Director Compensation (Actual 2024):
| Director | Stock Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|
| Harry Sloan | 305,228 | — | 305,228 |
Performance Compensation
| Metric Category | Disclosure |
|---|---|
| Performance-based pay for directors | None; non‑employee director compensation comprises retainers and annual RSU equity; no TSR/financial metrics tied to director pay |
| Equity Retainer | $250,000 value in RSUs, granted at annual meeting; vests at the earlier of next annual meeting or the one‑year anniversary of grant |
| Unvested RSUs (12/31/2024) | 6,969 per non‑employee director |
Other Directorships & Interlocks
| Counterparty | Interlock Type | Potential Conflict Considerations |
|---|---|---|
| DEAC/Stockholders Agreement | Party to agreement; registration rights and prior lock‑ups | DEAC Stockholder Group has shelf and underwritten offering rights; alignment and liquidity considerations for legacy holders |
| Multiple SPACs (Bold/Screaming/Soaring/Flying Eagle) | Sponsorship and board roles | As Transaction Committee chair, SPAC ties merit monitoring for related‑party exposure if DKNG contemplates deals with SPAC affiliates |
| Lions Gate/Ginkgo Boards | External public boards | Sector adjacency (media/biotech) but no disclosed transactions with DKNG; informational network benefits vs. potential conflicts to monitor |
Expertise & Qualifications
- International media investor/entrepreneur and studio executive; created/sponsored multiple public companies (Lions Gate, SBS, New World) .
- Extensive M&A and capital markets experience through SPACs with aggregate proceeds >$5B; led large‑scale combinations (e.g., DNA $17.5B; LION ~$4.6B EV) .
- Legal training (J.D., Loyola) and academic engagement (UCLA Anderson Associate Professor) .
Equity Ownership
| Holder | Class A Shares | % Class A | Class B Shares | Voting Power % | Notes |
|---|---|---|---|---|---|
| Harry E. Sloan | 216,638 | * | — | * | Party to Stockholders Agreement |
- Ownership guidelines: Non‑employee directors must hold 5x the Board cash retainer ($225,000) within 5 years; RSUs that are vested or require only continued service count 100% toward compliance .
- As of 12/31/2024, guideline compliance was disclosed for NEOs; director compliance status not specifically enumerated .
Governance Assessment
- Strengths:
- Independent status and deep transaction expertise; chairs Transaction Committee, enhancing oversight of M&A and commercial deals .
- High attendance standard met at Board/committee level; four executive sessions support independent oversight .
- Director equity retainer and ownership guidelines promote alignment via RSUs and 5x retainer target .
- Risks / RED FLAGS:
- Controlled company with combined CEO/Chair and no lead independent director reduces counterbalance; increases reliance on committee chairs (including Sloan) for effective oversight .
- Extensive SPAC affiliations and participation in Stockholders Agreement raise potential conflict sensitivities if DKNG considers related transactions; ongoing monitoring of related‑party transactions is warranted though none specific to Sloan were disclosed for 2024 .
- Director pay largely in equity until profitability may incentivize near‑term stock performance focus; however, no performance metrics are tied to director compensation, limiting pay‑for‑performance linkage .
Overall, Sloan’s capital markets and M&A acumen are additive to DKNG’s board effectiveness, particularly in transactions, but his SPAC ecosystem and legacy DEAC ties necessitate vigilant conflict management and robust disclosure to sustain investor confidence .