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NBA legend Michael Jordan announced Monday an investment in the international property group aXiomatic, which operates Team Liquid. (Ian Langsdon / EPA)
Basketball legend, Michael Jordan, will invest in the international espionage property group aXiomatic Gaming, propelling his business empire into the ever-expanding digital sports industry.
The company refused to announce the value of the Jordanian investment, but announced that this contribution would come during a $ 26 million series B round.
This is also because the popularity of esports is booming and professional players can earn millions of dollars in the international competition. Team Liquid's European team won the 2017 "Dota 2" international tournament, a popular game with an $ 11 million purse.
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Analysts, however, believe the biggest advantage is the consumer and public market, where US customers alone spent $ 29.1 billion on video game content in 2017, according to the Electronic business group. Software Association.
Jordan is not the first big NBA to invest in aXiomatic. Magic Johnson is a major investor. The company's ownership group includes Washington Wizards owners and capitals, Ted Leonsis, Peter Guber, co-owner of the Golden State Warriors, Bruce Karsh, Warriors board member, and Jeff Vinik, owner of Tampa Bay Lightning .
Financial billionaire and philanthropist David Rubenstein also joined the group as an investor.
Leonsis and Karsh have paved the way for recruiting Jordan and Rubenstein, aXiomatic co-founder and director Bruce Stein said in a phone interview. The discussions began during the summer, said Stein, while Rubenstein and Jordan expressed interest in investing in the sport, but wanted advice on the partners with whom they were involved. ;associate. Leonsis and Jordan have a relationship that dates back to the NBA era in Jordan, when Leonsis recruited him from the Washington Wizards as a co-owner and player following his retirement from the Chicago Bulls.
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"It's a new kind of trip in Star Trek and you have to pick the ship you want to join," Stein said. "That's how they did their own analysis."
AXiomatic investors have courted the pair for their "intellectual capital," Stein said. As the gaming industry grows and as the capital market becomes more sophisticated, Rubenstein and the resources of his family investment company, Statement Capital, can help steer financially axiomatic.
Jordan, owner of the Charlotte Hornets and the same name as the Jordan brand of footwear and clothing in Jordan, sheds light on content creation, said Stein, and on building a sports franchise.
"AXiomatic is a platform for developing the public and the ecosystem of sport and video games. Our ideal investors are people who bring something we do not already have, "he said. "With David and Michael, we get two unique perspectives that do not materialize anywhere."
According to Stein, aXiomatic did not discuss the possibilities of co-branding with Jordan, such as Team Jordan outfitter, but described it as "an exciting place to explore".
"Michael is the ultimate competitor and he is curious," he said. "It is important to bring its competitiveness and dynamism to our group, not only on the esport side, but also on the audience, because it knows how to engage an audience."
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