Monumental Sports & Entertainment owner Ted Leonsis has teamed up with NBA legend Michael Jordan on a new funding round for esports group aXiomatic.
The investment also includes billionaire Carlyle Group co-founder David Rubenstein’s private family office, Declaration Capital. Terms of the deal were not disclosed, but Bloomberg reported the round at $26 million.
“The next generation of sports fans are esports fans,” Ted Leonsis, co-executive chairman of aXiomatic said in a press release. “Esports is the fastest-growing sector in sports and entertainment, and aXiomatic is at the forefront of that growth.”
Jordan, who led the Chicago Bulls to six NBA championship titles, started a massively popular shoe line, and currently owns most of the Charlotte Hornets, said in a press release he was excited to expand his sports equity portfolio with the investment.
Jordan and Leonsis have known each other for years, with Leonsis being “instrumental” in luring Jordan to the Washington…Read the full story from the Washington Business Journal.