The Philadelphia 76ers announced on Monday its entry into the eSports arena, the first for a U.S. professional sports franchise.
Along with venture capital firm NextEquity, the 76ers purchased a majority stake in eSports franchises Team Dignitas and Team Apex, a deal that was worth between $7 million and $15 million according to Forbes. The two teams will be combined under the Team Dignitas name and will operate separately from the NBA franchise.
“I think that an organization that has an operating relationship with an NBA team has a distinct competitive advantage in terms of resources, access to corporate partners, and database brand experience,” 76ers CEO Scott O’Neil said to SportsBusiness Journal.