By Emre Bilginoglu, Attorney-at-Law, Istanbul, Turkey
Named as one of the most successful and valuable sports clubs in the world, the New York Yankees (the Yankees) announced on 19 October that they have invested in Vision Venture Partners, the parent company of Echo Fox and Twin Galaxies, which are all connected to the e-sports ‘ecosystem’. The amount of theYankees’ investment has not been disclosed.
Echo Fox, which was founded by the three-times NBA Champion, Rick Fox, fields teams in popular e-sports games, and Twin Galaxies is a platform for player rankings, e-sports events and statistics.
The Yankees plan to benefit from the ever-growing e-sports market, which is always a wise move before it is too late.
By investing in Vision Venture Partners, the Yankees will not have to worry about any aspect of e-sports. They will already have enough experience to field their teams and start their e-sports journey from an advanced level, compared with those teams who try to form their teams on their own.
Experts in this field know that one does not only need good players, but also good organisers and tremendous marketing skills for maximum efficiency and impact.
So, presumably, in the long run, the Yankees will be thankful for this investment.
I would suggest a similar move for major clubs in sports, at the least, to have some share in the e-sports business before these investments get more costly, as e-sports continue their ownwards and upwards trajectory in popularity and value.
Emre Bilginoglu may be contacted by e-mail at ‘firstname.lastname@example.org’.