Five-time NBA champion and Hall of Famer, Magic Johnson, recently congratulated the professional League of Legends esports team, Team Liquid, for securing their spot at the Worlds 2023 tournament in Korea. Johnson, who is a part owner of the team, has seen a cumulative profit of around 220% over the last four years.
Team Liquid faced a tough series of matches, starting with a victory over the Golden Guardians in a closely contested elimination. They then faced a loss against LCS Champions NRG in the lower bracket final. However, these results secured Team Liquid LCS' third seed in the Swiss Stage of Worlds 2023.
The Team Liquid franchise was sold to a group of investors in 2018, which included Magic Johnson. At the time of the acquisition, the team was valued at $200 million. Since Johnson took over, the organization's profits have risen by an impressive 220% within four years, reaching a valuation of $440 million in 2022.
This is not the first time Magic Johnson has publicly praised Team Liquid's success. In 2019, he congratulated the team's CS:GO roster for winning the $1 million Intel Grand Slam.
Team Liquid is one of the 12 teams confirmed for the upcoming Worlds 2023 Swiss Stage, which will begin on October 19. The final four spots in the tournament will be determined 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.
Aside from his basketball career, Magic Johnson has made successful business deals and endorsements. One of his noteworthy investments is in Team Liquid, which has seen a 220% return in profits. This investment, along with Michael Jordan's involvement in the same investment group, inspired other athletes to recognize the potential of esports and become part owners of teams.
– Magic Johnson's Twitter account