Rick Fox Buys ESports League of Legends Team Gravity, Will Rename Echo Fox

Former Los Angeles Lakers forward and three-time NBA champion Rick Fox has reportedly purchased an eSports League of Legends team in a push to expand his post-playing portfolio. 

According to Bloomberg's Scott Soshnick, Fox has acquired Gravity, which is slated to be rebranded as Echo Fox, per ESPN's Darren Rovell. 

While the full sale price has not been disclosed, Soshnick noted recent eSports sales have pegged around $1 million, and overall revenue within the industry is projected to grow to $1 billion by 2018. 

"I see the way that the eSports world is growing and I know we are on the verge of something massive," Fox said in a statement, per Soshnick. 

League of Legends has evolved into the most popular eSports competition, but mainstream expansion is coming to other gaming platforms in the coming months. In September, Turner Broadcasting and WME/IMG formed a partnership to televise featured competitions of Counter-Strike: Global Offensive exclusively on TBS starting in 2016. 

So long as eSports continues its development at a high rate, investments like Fox's figure to become more commonplace. 

Note: Bleacher Report is owned by Turner Broadcasting.