New York Yankees venture into esports industry with new partnership

Key Points
  • The New York Yankees announce an investment partnership with Vision Esports, a shareholder of three esports-related companies.
  • One of the companies, Echo Fox, was founded by three-time NBA champion Rick Fox in 2016.
  • The esports space has been drawing big names from traditional sports franchises like New England Patriots owner Robert Kraft.
Gary Sanchez #24 of the New York Yankees celebrates with Didi Gregorius #18 after a solo home run during the seventh inning against the Houston Astros in Game Five of the American League Championship Series at Yankee Stadium in the Bronx, New York on October 18, 2017.
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The New York Yankees just became the latest in a growing number of traditional sports franchises to venture into esports.

The Bronx Bombers signed an investment partnership with Vision Esports, the largest single shareholder of three esports-related companies, according to a press release. Esports are multiplayer video game competitions. The partnership will try to grow three separate esports start-ups, including Echo Fox, an esports organization founded by three-time NBA champion Rick Fox.

Echo Fox, which was formed in 2016, consists of 10 teams in 12 competitive gaming leagues, including "League of Legends," "Call of Duty" and "Injustice 2."

"The New York Yankees brand is synonymous with success, and we are thrilled to welcome the organization to the Vision Esports team," said Stratton Sclavos, general partner, Vision Esports. "In every business, you are known by the company you keep, and we cannot be more pleased to be a part of the New York Yankees organization."

The young esports industry has been making lots of headlines lately.

is building a professional esports league around its popular first-person-shooter video game "Overwatch," creating city-based teams to compete in global gaming tournaments.

The league mimics the structure of traditional sports teams. Among team owners are New England Patriots owner Robert Kraft and New York Mets COO Jeff Wilpon.