Cleveland Cavs Owner Takes His Place Among Esports Sponsors

Dan Gilbert, the majority owner of the NBA Cleveland Cavaliers team creates an investment fund, taking his place next to other high profile eSports sponsors in the constantly evolving eGaming industry.

The fund, called Courtside Ventures, is expected to spend at least $35 million on developing and promoting early stage eSports technology, including wearable devices. Along with Dan Gilbert, the fund is also backed by George Pyne’s Bruin Sports Capital, and the communication services company WPP.

“We raised $250 million in capital to invest in sports, media, entertainment and branded lifestyle companies and did it in six months,” said Pyne. “It is very unique that you’re able to do that as an individual.”

In his interview with Forbes, Pyne had stated that there are a number of roads open for Courtside Ventures, and suggested that he himself is especially interested in virtual reality and data analytics platforms, and that it’s possible for Courstide Ventures to extend investments beyond sports.

“The idea is that technology is changing the way media is consumed, products are consumed, data is consumed,” Pyne said. “Sports engages consumers around their passion points in ways that other things don’t. We want to be at the forefront of that disruption and change and empower entrepreneurs trying to build disruptive technologies.”

What does this mean for the world of eSports gaming?

Well, we’ll just have to wait and find out, but it is without a doubt an industry that is growing in leaps and bounds as competitive video games become big international events, with millions of dollars in prize money, and even more millions in bets.

It would appear that many believe that eSports are the future, and, if anything, Dan Gilbert, Pyne, and most other venture capitalists make their fortunes on trying to predict it. That they have decided to become eSports sponsors and are investing $35 million into it is a sign that for eSports, the future’s looking neon bright.