Bucks co-Owner Wes Edens and his Fortress Investment Group will "launch esports brand FlyQuest in the coming weeks," according to sources cited by Jacob Wolf of ESPN.com. The team will "feature only one esports team upon launch," the "League of Legends" team that Edens and the group purchased from Cloud9 for $2.5M in December. Sources said that the group also is "expected to look at various other potential esports investments throughout the year but has yet to settle on any other form of expansion." To help run the FlyQuest brand, the team has "picked up Eden's son Ryan," as well as Fortress Investment Group Managing Dir Sarah Watterson, who has "worked closely with the Bucks franchise over the past few years." FlyQuest's "LoL" team will "start competing in the North American League Championship Series on Jan. 20" (ESPN.com, 1/4).
WELL-OILED MACHINE: CNBC's Scott Wapner yesterday noted Clippers Owner Steve Ballmer "reset the valuation of NBA franchises" and asked Bucks co-Owner Marc Lasry whether those values were still appreciating. Lasry: "It is and it's going to continue to appreciate because it's a bit of a media company. So as the new (media-rights contract) comes into play -- it's been beneficial to the players and it's also going to be beneficial to everybody because we're all going to make a lot more money." Wapner noted the NBA also has "enjoyed labor peace," and its relationship with the NBPA "couldn't be better." Lasry said the labor peace is "mainly" because of NBA Commissioner Adam Silver, who has done a "phenomenal job." Lasry: "Everything is going as well as it possibly can" ("Fast Money Halftime Report," CNBC, 1/4).
