Magic Johnson recently congratulated the professional League of Legends esports roster of Team Liquid for booking their berths at the Worlds 2023 in Korea. Johnson is a part owner of the esports team, which earned him a cumulative profit of around 220% over the last four years for a company that made $240,000,000 profit. Team Liquid first defeated the Golden Guardians in a highly contested elimination, only series to eventually face a loss against LCS Champions NRG in the lower bracket final. However, these results guarantee Team Liquid LCS’ third seed in the Swiss Stage of Worlds 2023.
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In 2018, the Team Liquid franchise was sold to a group of investors, which included the NBA legend Magic Johnson. As per Forbes, TL was only worth $200 million during the acquisition and was estimated to be worth $440,00,000 within 4 years. However, since Magic started running things at the front office, the organization’s profits rose by a whopping 220% in four years within 2022.
Magic Johnson congratulates his esports team on qualifying for League of Legends Worlds 2023
Team Liquid has qualified for the League of Legends Worlds 2023 after securing the third spot at the LCS 2023. On this incredible achievement, the gamers from the Team were warmly wished by five-time NBA champion and Hall of Famer Magic Johnson. In his congratulatory post, Johnson wrote:
“Proud of how far Team Liquid came this LCS Split, and now eyes on Worlds 2023! #LetsGoLiquid”
Proud of how far @TeamLiquidLoL came this #LCS split, and now eyes on Worlds 2023! #LetsGoLiquid https://t.co/ZTM3Cte6Eh
— Earvin Magic Johnson (@MagicJohnson) August 23, 2023
The former showtime Lakers star was a key investor as part of aXiomatic, the investment group that bought a majority stake in the team in 2018. Well, this wouldn’t be the first time the three-time league MVP has publicly praised this esports team’s success. In 2019, Magic congratulated TL’s CS:GO roster for winning the $1 million Intel Grand Slam.
Team Liquid is among the 12 teams confirmed for the upcoming Worlds 2023 Swiss Stage. The tournament will kick off on October 19, with the final four spots to be decided by the LCK’s fourth seed, an LEC team determined by the Season Finals, and the top two sides of the Worlds Play-In Stage.
Magic Johnson’s smart investment in Axiomatic inspired Michael Jordan to invest as well
Aside from basketball, Magic Johnson has built a notable name for himself through his various business deals and endorsements. One of his most bizarre but worthwhile investments was $25,000,000 in the e-sports giant Team Liquid. Magic had visionary insights about the rise of esports, which paid off well in the form of a 220% return in profits.
Alongside Magic, Michael Jordan was also part of the investment group that raised $26,000,000. The Series C funding round was for the parent company aXiomatic, where MJ and Magic Johnson became part owners. Over the years, both Jordan and Magic started reaping heaving, with their investment’s profit valuation rising to $440,000,000 as of 2022.
