After the insane viewership of the League of Legends World Championship, investing in teams can prove to be a lucrative endeavor. At least that’s what Rick Fox thinks. The former pro basketball player has laid down $1 million for top team Gravity Gaming.
Gravity made it into the top six in the spring and summer seasons, but didn’t end up qualifying for the world championship. It’s possible Fox picked this team, hoping they’re up and coming, and felt buying them now would pay off dividends in the future. Now that he owns the team, it will be renamed Echo Fox.
Fox is not in the dark about the value of sports teams. He played well in the 1990 NCAA tournament and went on to play for the Los Angeles Lakers, where he helped earn three NBA titles. Less sports-related, he also was married to Vanessa Williams at one part and has been an actor in a couple of television series.
Most sports teams are owned by one or two people in the world of “traditional sports.” For example Martha Ford (descendant of Henry Ford) owns the Detroit Lions, and Michael Jordan owns the Charlotte Hornets. But Fox is one of only a few investors in eSports teams. Ownership of eSports teams in the tradition of regular sports teams could continue to validate eSports as a viable alternative to football or basketball.