Infinite Esports & Entertainment President Chris Chaney is out of a job and 19 employees have been laid off, new President Ryan Musselman confirmed. Infinite, the holding company created by Chaney and MLB Rangers co-Owner & COO Neil Leibman after Leibman acquired OpTic Gaming in '17, had about 70 employees before the changes. "We grew too fast,” said Musselman, who had been Senior VP/Global Partnerships. Chaney will retain his co-founder and ownership position. He did not return a message seeking comment. The organization remains committed to its holding-company approach to esports, Mussleman said. Its subsidiaries include: Ngage, a live events operator; Triggerfish, a sponsorship sales agency; the original OpTic Gaming franchise; the Overwatch League Houston Outlaws; and other companies. However, execs will renew a focus on what he called “foundational” brands such as OpTic, the OpTic franchise in the North American League of Legends Championship Series and the Outlaws. “I do want to emphasize we’re not losing sight of the model of what we built,” he said. Across esports, many team organizations that recently accepted large infusions of cash from eager investors have had to confront slower-than-hoped-for revenue growth. Musselman declined to address Infinite’s financial condition directly, but acknowledged the changes will establish a “healthy operating position." Official confirmation of the changes comes after several former employees confirmed they had left in recent days on their personal social media accounts. Leibman in a statement said, “I’m very confident about our model and esports in general. I will continue working closely with Ryan and the new leadership at Infinite; I am positive the recent changes are the right way to move forward for our long term success in the esports business."
For more coverage of the business of esports, visit our partners, esportsobserver.com.
