Philadelphia 76ers acquire Team Dignitas and Apex

The Philadelphia 76ers have announced the acquisition of two esports teams – Team Dignitas and Apex Gaming. Though the financial terms have not been revealed, the teams are projected to be worth around $5-$15 Million.

Acquired esports teams will be merged and continue to operate under Team Dignitas name. Here’s what the 76ers CEO, Scott O’Neill, had to say:

We were smart enough to know what we didn’t know. The market created itself and became a product that a quarter billion people are watching, and when they watch, they’re watching an hour and half a day. But at the same time, it’s an incredibly large, immature market that is somewhat of a Wild West.

We like to be agents of change, rather than sit and watch from the sidelines. Our owners, Josh [Harris] and David [Blitzer], have big eyes, big vision and big appetite. There’s no denying the fact that esports presents corporate America with a way to reach millennials in a way stick and ball sports just isn’t, and if you don’t respect that you’re in trouble.

The 76ers are the first sports team from North America to own an esports team. Earlier this year it’s been announced that FC Schalke 04 bought a LoL team, and the likes of Manchester City and West Ham United have signed FIFA players.

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