Vision Esports, a company that comprises of several eSport companies welcomed the Yankees to take up equity stakes in the company.
Major brands under Vision Esports include Echo Fox, Vision Entertainment, and Twin Galaxies. Echo Fox is an eSport brand that was founded by Rick Fox, a former NBA star. The company fields about 10 gaming teams. Vision Entertainment is a producing brand that handles all eSport content while Twin Galaxy is a league operator which provides video gaming validation. The financial details of the partnership deal are not disclosed but both parties are looking forward to a successful business together. Vision Esports was founded by Rick Fox, Amit Raizada, Stratton Sclavos, and Vision Ventures Partners. Rick, Amit, and Stratton have partnered before in business, and this establishment was an easy one for the three businessmen.
Boasting of an impressive sports leadership and wise investors, Vision Esports is hoping to transcend the eSport business. In a statement, the co-chairman of the New York Yankees said, “We are very excited about this new deal, especially partnering with a brand like Vision Esports. Both Vision Esports and the New York Yankees are buoyant of the prospects of their business, and they are focused on creating more awareness of their brand. Their aim is to market eSport globally and improve the sales of their brand. “We are looking forward to exploring and maximizing all the business opportunities available for a successful eSport market,” said Sclavos, a former Chief Executive Officer of VeriSign. The statement clearly highlights the investors focus on taking eSport globally.
What the Deal Means for the Esports Ecosystem
Apparently, the move by the Yankees has stirred excitement around the globe about the eSport market and different traditional sports brand and investors are diving into the business. Notable investors such as David Blitzer and Josh Harris are the owners of Philadelphia 76ers. The move has also seen Crystal Palace, a team in the English Premier League, and the New Jersey Devils take an interest in eSport. Recently, several investors are recorded to have bought e-sport franchisees. They include Jeff Vinik, a principal owner of aXiomatic, Peter Guber, former manager of the Colombia Pictures and owner of the Golden State Warriors, and Robert Kraft, owner of New England Patriots.
Echo Fox, Twin Galaxies, and Vision Entertainment Impact
Rick Fox launched Echo Fox in 2016, and currently, the brand boasts of 10-competitive teams which participate in the League of Legends, Vainglory, H1Z1, Call of Duty, and Street Fighter, Gears of War, Tekken, Injustice 2, and Smash Brothers. “Yankees Sign with Rick Fox & Amit Raizada” headline hit a wide range of media outlets, an indication that the global community is watching closely this new deal. Rick Fox is really positive about this new deal with the Yankees, and he believes that Echo Fox will have a big role to play as part of Vision Esports.
As for Twin Galaxies, the brand has demonstrated impressive market results in the recent past. Earlier this month, the league operator announced that they had established a new Pro league gaming division that creates, operates, and governs new Pro eSport Leagues. This is in partnership with the publishers of the video games. The contribution of Vision Entertainment is very vivid and the prospects are high for the brand. The company produces authentic scripts and formats of eSports material. Currently, Vision entertainment has five shows that are broadcasted live on Facebook. They enjoy over million active subscriptions on social media. The New York outfit is in the middle of their season, and they are enjoying a good run in the MLB.
This new deal is believed to promote their brand as they also hope for good returns in exploring the eSport market. All the stakeholders of Vision Esports, especially Rick Fox, Amit Raizada, and Stratton Sclavos are very optimistic about the investment deal with the Yankees. Considering the market reputation of the Yankees, there is no doubt that the investment deal is perfect for both parties. They will be both waiting for their investments to materialize. Due to the rise in eSport, it’s evident that the wait will not be that long, and sooner, they will reap the results of their input.