The New York Yankees have become the latest sports organisation to invest in competitive gaming after taking a stake in Vision Esports.
The Major League Baseball (MLB) franchise will provide undisclosed financial backing to the investment vehicle, which is the largest single shareholder in three esports properties: Echo Fox, Twin Galaxies, and Vision Entertainment.
Formed in 2016, Echo Fox is owned by retired basketball player Rick Fox. Its portfolio of ten teams competes across 12 gaming leagues, including League of Legends, Call of Duty, and Injustice 2.
Twin Galaxies is an online community platform that provides stats and rankings for esports players and events, while Vision Entertainment is a studio that produces original esports-themed video content.
Terms of the Yankees’ investment has not been disclosed, but in a statement the team said it would provide its “considerable marketing, sales and partnership experience to help all three companies accelerate their growth and expand their business relationships.”
“The New York Yankees are thrilled to partner with Vision Esports and its diverse portfolio of esports companies,” said Hal Steinbrenner, the Yankees’ managing general partner and co-chairperson.
“Guided by an impressively skilled and sports-savvy leadership team, Vision Esports is transcending the industry with a bold, innovative approach to their business, and we are excited to enter into this dynamic arena as their partner.”
The Yankees join a growing list of sports organisations and team owners invested in esports. Other entities with interests in the burgeoning sector include Monumental Sports & Entertainment, Harris Blitzer Sports & Entertainment, the Madison Square Garden Company, and the Miami Heat.