It seems that eSports is following in the footsteps of traditional sports–in that folks are now buying and selling teams. Former pro basketball player Rick Fox has laid down $1 million for top League of Legends 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 them in the hope that an up-and-coming team might pay future dividends. 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. (He was also married to Vanessa Williams at one point.) Currently Fox works as an actor.
Fox is one of only a few investors in eSports teams so far. Ownership of eSports teams in the tradition of regular sports teams could continue to validate eSports–in the eyes of the general public–as a viable alternative to football or basketball.