Esports Team Envy Bought by Texas Oil Magnate

The Dallas, Texas-based oil magnate Ken Hersh has made a “significant” investment in the highly successful Team Envy Gaming company. The Hersh Interactive Group has not disclosed just how much this investment is, yet, but ESPN recently released a report that it is estimated to be around $35 million.

This interesting set of news is sure to be a sign of what’s to come for the future of esports. As gaming’s foray into the sports realm continues to gain more and more momentum, it shouldn’t come as a surprise that enterprising corporations will want to get its hands in the industry.

Regardless of how much the investment actually is, it was certainly enough to completely change Envy Gaming. The company, including all 50 of its signed players, is moving its headquarters from Charlotte, North Carolina to Dallas. This move intends to make “North Texas a leading-edge market in the global development and expansion of esports”, according to Hersh Interactive’s managing director Randy Chappel.

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This move for the team is noted to make perfect sense, as the CEO of Envy Gaming is a native of the small East Texas town of Lufkin – the same hometown as myself – and will help to build the esports scene in Texas.

Team Envy

With Blizzard’s recent unveiling of the official Overwatch League (via Wall Street Journal) that will be starting soon, this move means that the award-winning, highly successful Team Envy will take the Austin-Dallas spot in the league later this year.

This is in addition to the recent news that Blizzard is also opening a dedicated esports arena in Los Angeles, California that will host many such events. Because of the rising popularity of esports, it is very possible that we will see more investments into the industry from outside – and rather unrelated – sources.

What do you think about this surprising acquisition? Is it concerning that an oil company is investing in esports or do you think that it’s just signs of esports becoming more like other mainstream sports?