YANKEES, WWE INVEST IN ESPORTS
The NY Yankees have announced an investment partnership with Vision Esports, to accelerate the growth and awareness of 3 esports properties; Echo Fox (manages teams), Twin Galaxies (a league operator and performance validation platform) and Vision Entertainment (a content production studio). Vision Esports leadership will mirror the business model used by the traditional sports franchise; maximizing revenues from advertising, sponsorships, media rights, merchandise and ticket sales, naming rights and content creation. Financial terms of the investment were not disclosed but the investment does give the Yankees a stake in all 3 companies. The Cleveland Cavaliers and Philadelphia 76ers have also recently invested in esports.
Howie Long-Short: This is a strategic partnership as much as it is a capital investment. The Yankees are among the best pro sports organizations at maximizing revenues; squeezing every dollar out of their product is what they do best. Vision Esports has 3 companies competing in an industry that is expected to grow from $696 million to $1.5 billion in revenue by 2020. That sure sounds like a logical fit to me.
Fan Marino: Looking for way to play esports? Cloud9, an organization that manages teams and players that compete in all the popular games has raised a $25 million Series A round. The organization intends on utilizing the capital to expand team development and broaden its presence across multiple leagues (they recently purchased a London franchise for the Overwatch League). World Wrestling Entertainment (WWE) participated in the round and will become a board observer.
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