A group of prominent sports business, media and entertainment execs have purchased the Team 8 competitive video gaming franchise, continuing a recent run of activity in the white-hot eSports space. The consortium includes Peter Levin, former AFL Chicago Rush Owner and current Lionsgate President of Interactive Ventures and Games; Grizzlies Vice Chair Steve Kaplan; and Legalzoom co-Founder Brian Lee, among several others. The group will rebrand the franchise, which currently competes in the North American League of Legends Series, as Immortals. “This is a marathon, not a sprint. We’re still in very early days. But we’re long on eSports. The ceiling is very high,” said Levin, who has extensive prior experience in gaming through ventures such as an investor in Gamespy Industries and an early advisor to Angry Birds creator Rovio. “This is a sport that travels globally, truly, and has immense growth potential. And by participating at the franchise level, it offers a unique avenue to be involved.” Financial terms were not disclosed, but the group acquired the franchise from co-Founder Eric Ma and is exploring additional competitive opportunities for Immortals beyond the League of Legends Series. “We’re trying to create a next-generation eSports franchise,” said Crosscut Ventures Managing Dir Clinton Foy, who will also serve as Immortals Chair.
PRACTICE MAKES PERFECT: GMR also is establishing an eSports practice, which will have its HQ in Milwaukee, with plans to expand it internationally. "You’ve got this 16 to 34-year-old generation where so much of what they consume is digital," said GMR Exec VP & Chief Strategic Officer Dave Rosenberg. “So many marketers want to reach this group and the on-line audience is enormous and growing. It’s a relatively uncluttered and untapped opportunity that marketers are looking at hard. The opportunity is huge." Early clients include Comcast and Microsoft, which have been sponsoring gaming tournaments and teams.
