NBA team co-owners and Magic Johnson buy Team Liquid

The investment group known as aXiomatic eSports has purchased controlling interest of Team Liquid.

The group features big names such as NBA hall of famer Magic Johnson along with Peter Guber and Ted Leonsis who are leading the group. Guber is perhaps best known as the CEO of Mandalay Entertainment Group, which co-owns the Golden State Warriors (NBA), Los Angeles Dodgers (MLB) and Los Angeles Football Club (MLS). Leonsis on the other hand owns Monumental Sports & Entertainment, which owns the Washington Capitals (NHL), Washington Wizards (NBA), Washington Mystics (WNBA), Washington Valor (Arena football) and the Verizon Center (downtown D.C.).

Guber and Leonsis will now serve as Co-Executive Chairmen of aXiomatic, and thus be heavily involved with Liquid going forward, however Steve Arhancet and Victor Goossens, the current Liquid head honchos, will continue as owners and in their respective roles as Co-CEOs of Team Liquid.

Liquid is currently one of the biggest eSports organisations in the world, with teams and players in StarCraft 2, League of Legends, Dota 2, Hearthstone, CS:GO, Heroes of the Storm, Overwatch, Halo, Street Fighter, and SSBM.

"I will always be a fan at heart – a gamer who fell in love with League of Legends. I followed that heart and built a team that is now shaping the future of esports, but there are still so many opportunities that we want to explore," said Arhancet. "With our new ownership group leading the charge, I am certain that we can grow from a premier esports team to a powerhouse sports entertainment franchise."

"The key to our future success will be to bring the resources and resourcefulness of our ownership group to Victor, Steve and the team they built," said Guber. "Ted, myself and the individuals that comprise our ownership group have an enormous wealth of experience and talents across virtually every major media and sports business category."