It has been revealed that the Miami Heat basketball team have acquired a stake in the Misfits esports organisation.
The multi-game team are well known for their League of Legends and Overwatch roster, but have also expanded into titles including Hearthstone, Smash and and Heroes of the Storm.
The Miami Heat are one of the most recognisable brands in Basketball. Only founded in 1988, the franchise are estimated to be worth $1.3 billion by Forbes magazine, the 10th richest in the NBA.
Terms of the deal haven’t been revealed by either party, however the Misfits will be rebranding their colour scheme from orange to black and red, falling in line with the Miami Heat colour scheme.
The Florida based team aren’t the first NBA team to get involved with esports, with the Philadelphia 76ers purchasing Team Dignitas for a reported $15 million in 2016.
Statement from the Heat Chief Executive Officer Nick Arison via ESPN:
“The Miami Heat pride ourselves on being innovative in all aspects of sports and business. For us, it made perfect sense to partner with Misfits, a young and ambitious franchise in a sport that is blazing a trail in terms of 21st century recreational competition amongst Millennials.”
— Misfits (@MisfitsGG) January 10, 2017
We’ve got some new talent we’d like you to meet… pic.twitter.com/BwmxjRbJw2
— Miami HEAT (@MiamiHEAT) January 10, 2017