Mike Stubbs . Business . Wednesday 11th January 2017 . 10:02
The Miami Heat has invested in eSports organisation Misfits.
The former NBA champions announced a strategic partnership with the organisation that sees the Heat acquire a stake in the team and help out with areas such as marketing, branding, promotion, retail, digital and sponsorship activation. The stake acquired is Misfits does not give the Heat a controlling share of the team.
“The Miami HEAT pride ourselves on being innovative in all aspects of sports and business,” said HEAT Chief Executive Officer Nick Arison. “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 is thrilled to be partnering with the HEAT organization,” said Misfits CEO and Co-Founder Ben Spoont. “This partnership will be the catalyst and foundation to our continued expansion of the Misfits organization into a global esports brand and company. The HEAT -- innovators and leaders in traditional sports -- will help Misfits to unlock meaningful value across all facets of our business.”