Majority Stake in Team Liquid Sold to Consortium Including Owners of Wizards and Warriors, Magic Johnson Included

By Ishaan Khatri

Team Liquid sells controlling interests to ownership group including tech and sports influencers

Team Liquid has recently sold its controlling interest to a new ownership group called AXiomatic. This group is led by influential figures such as Peter Guber, the CEO of Mandalay Entertainment Group, and Ted Leonsis, the CEO of Monumental Sports & Entertainment. Guber and Leonsis already own seven national sports teams, including the Golden State Warriors, Washington Capitals, and the Los Angeles Dodgers. The investment group also includes NBA legend Magic Johnson.

Despite this sale, Team Liquid’s management team, Steve Arhancet and Victor Goosens, will continue to be active owners and co-CEOs. Eventually, they will also serve as directors of the project.

Over the past year, there has been an increasing interest from traditional sports in esports. Former and current NBA players, such as Shaquille O’Neal, Rick Fox, and Jonas Jerebko, have already invested in esports teams and organizations. Just yesterday, the Philadelphia 76ers acquired a majority stake in Team Dignitas and Team Apex. According to 76ers CEO Scott O’Neil, esports provides corporate America with a unique opportunity to connect with millennials that traditional sports cannot.

In a press release, AXiomatic’s newly appointed CEO Bruce Stein stated that the group had been actively looking to enter the esports industry for the past ten months. Their goal was to find the perfect blend of team and strategic ownership group to build an exceptional esports enterprise. With the combined expertise and reputation of their ownership group, they expect great success in this dynamic space.

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