Michael Jordan leads $26 million round for esports franchise
His “Airness” Michael Jordan has joined the eSports ranks alongside Hall of Famer and business impresario Magic Johnson. The two NBA legends bought an ownership stake in aXiomatic, the parent company for the industry-leading Team Liquid. This marks Jordan’s first foray into the lucrative world of esports.
Last Thursday, Team Liquid announced it raised $26 million in a Series C funding round.
Team Liquid competes fields competitive teams in tournaments of games such as Fortnite, Street Fighter, PUBG, FIFA, and League of Legends.
Why is this important? And how does it impact North Texas?
aXiomatic, the company Jordan invested in is more than just a competitive gaming. The company invests financial resources to companies who create compelling video game experiences for fans. Aside from financial resources, they invest technological resources and expertise in growing startups to create phenomenal experiences and push the eSports industry forward.
Magic Johnson was an early investor in the company, which features investments and leadership from Golden State Warriors owner, Peter Gruber, Washington Capitals owner Ted Leonsis and Tampa Bay Lightning Owner Jeff Vinik. With the addition of Michael Jordan, who’s net worth lands around $1.7 billion dollars and is arguably the most recognized sports star in the world, aXiomatic and Team Liquid gain heavy leverage in drawing top talent to its teams and partnering with fledgling companies.
Jordan spoke on the recent announcement, “I’m excited to expand my sports equity portfolio through my investment in aXiomatic. Esports is a fast-growing, international industry and I’m glad to partner with this great group of investors.”
The investment is monumental for the credibility and future of eSports since Michael Jordan is the owner of the NBA’s Charlotte Bobcats and Magic Johnson owns the MLB’s Los Angeles Dodgers and serves as President of the Los Angeles Lakers.
Team Liquid, the premier competitive gaming team and a primary driver of most investment capital, was founded in 2000. “Team” Liquid is deceiving because the company is more than just a competitive team. The team is a media enterprise that covers all areas of the gaming industry including training facilities, production studios for documentary-style films and commercials, player management, and even Liquipedia, a wiki network widely used in the gaming community.
Why did Jordan, a six-time NBA Champion, choose aXiomatic to invest in? The answer might be that Team Liquid is the all-time leader in tournament prize money winnings. Jordan is a winner and adds a new legacy to his portfolio with the world champion Team Liquid of his newest investment.