Home » INDUSTRY » Is Texas Esports Selling Stakes in Infinite Esports & Entertainment?

Texas Esports is led by Neil Leibman, who is also the owner of MLB’s Texas Rangers.

They are currently preparing to sell their Infinite Esports stakes, after the Infinite’s apparel brand Sector Six got sold to We Are Nations.



Texas Esports were the driving force for Infinite Esports’ Overwatch and League of Legends teams.

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The sale is set to begin in February 2019, and the stakes are currently valued at 150 million dollars.

Related: Jang “MaRin” Gyeong-Hwan Retires

On October, 2018, Infinite Esports, having 70 employees prior, reportedly fired 19 of staff. They also removed the team’s co-founder Chris Chaney from his position of president. He has, however, retained the status as a co-founder and co-owner of the organization.

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Infinite Esports said that there will be no lay-offs within the company. After Texas Esports sells the stakes, employees from auxiliary businesses will receive new positions instead. We are still to find out what type of impact this will have but selling stakes in a business is usually not a good sign.

 

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