Yankees Move Into Competitive Video Gaming By Acquiring Stake In Echo Fox Team
The Yankees are "investing in competitive video gaming, acquiring a stake in Echo Fox," the esports franchise owned by former NBAer Rick Fox, according to Eben Novy-Williams of BLOOMBERG NEWS. The investment is a "part of a deal between the Yankees and Vision Esports," an investment vehicle set up earlier this year that "contains Echo Fox; Twin Galaxies, a stats and rankings company; and Vision Entertainment, which produces esports video content." In a statement, the Yankees said that they will "receive a stake in all three." Terms of the investment "weren’t released." The Yankees join a "growing list of big-time sports teams buying into the rapidly expanding esports industry." Echo Fox has 10 teams competing in titles such as Riot Games' "League of Legends," Warner Bros.’ "Injustice 2," Nintendo's "Super Smash Bros." and Bandai Namco’s "Tekken 7." Riot in the next few weeks is "set to announce which 10 teams will be given permanent slots" in its North American League of Legends Championship Series. Sources said that Echo Fox "will be awarded one of those highly-coveted slots" (BLOOMBERG NEWS, 10/19).