NBA esports league adds Shanghai team, eyes international growth
The trade war between China and the U.S. is seemingly not impacting the esports business.
The NBA 2K League will add a Shanghai-based franchise for its 2020 season as the NBA looks to lure more international viewers to its fledgling esports venture.
The Shanghai franchise will be operated by Gen.G, a global esports powerhouse that also backs pro teams in Fortnite, Overwatch, League of Legends and other popular video games. The new team will become the NBA 2K League’s 23rd overall franchise and its first based outside of North America, according to a press release on Thursday.
“This is a historic moment in the NBA 2K League’s journey to becoming a truly global league with fans, franchises and players from all over the world,” said NBA 2K League Managing Director Brendan Donohue. “Gen.G is the ideal organization to launch our first team from outside of North America, and we look forward to working with Gen.G to reach new fans in Shanghai and identify elite talent across Asia.”
Founded as a joint venture between the NBA and video game manufacturer Take-Two Interactive, the NBA 2K League’s other 22 teams all have direct ties to NBA franchises, with names such as Celtics Crossover Gaming and Hawks Talon GC. The league featured a $1.2 million prize pool during its 2019 season, which concluded last August.
The Gen.G franchise has yet to announce its name. The team will train in Los Angeles during the NBA 2K League season. In addition, Gen. G will aid efforts to uncover talented gamers and spearhead efforts to attract new fans in Asia.
“We are honored to help lead the NBA 2K League’s expansion into Asia and proud to represent Shanghai on behalf of the hundreds of millions of Chinese fans who love basketball and video games,” said Chris Park, CEO of Gen.G. “Gen.G’s unique core mission -- to connect esports fans and athletes across the U.S. and Asia -- is meant for ambitious ventures like this. We have big plans to help grow the NBA 2K League in communities around the world that are passionate about basketball and video games.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TTWO | TAKE-TWO INTERACTIVE SOFTWARE INC. | 187.85 | +0.23 | +0.12% |
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The overall esports marketplace is projected to generate $1.1 billion in revenue in 2019, according to research firm Newzoo.