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Magic Johnson and others join forces to purchase Team Liquid

Team Liquid franchise is now partially owned by Magic Johnson and more money flows into eSports.

Team Liquid is now partly owned by NBA hall of famer, Magic Johnson. The news today came following the acquisition and involved a number of notable investors.

The co-CEOs of Team Liquid, Steve Arhancet and Victor Goossens, will stay within their current roles in the franchise. They will also become directors.

Controlling interest was sold to a large investor group apart of aXiomatic. Among the group including Johnson is co-owner of the Washington Wizards and Capitals, Ted Leonsis, and Golden State Warriors co-owner, Peter Guber.

Leonsis commented on this as a business opportunity for possible growth for all parties involved.

"I am truly excited to work with the best people across a broad spectrum of businesses to create a unique eSports enterprise," said Leonsis. "This company has the potential to create all new experiences for eSports audiences worldwide."

Magic joins the likes of Rick Fox and Jonas Jerebko as NBA figures that have ventured into the growing business of eSports.

Published Sep. 27th 2016

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