According to Wolf, the Lacobs will need to pay the $13 million entry fee in order to finalize the deal. Joe is the third Warriors co-owner to buy an esports team, joining Peter Guber and Chamath Palihapitiya.
While Lacob isn't officially representing the Warriors in the purchase of the League of Legends franchise, the move highlights the growing number of sports owners and teams investing in esports. The NBA announced in May that 17 teams will take part in the NBA 2K esports league beginning next year:
The NFL also announced in August that all 32 teams will hold a Madden tournament, with the event culminating at the Super Bowl Experience ahead of Super Bowl LII in Minneapolis.
Wolf reported the League of Legends Championship Series will include 10 teams selected "from a pool of applicants that include longtime League of Legends teams and non-existing sports owners, venture capitalists and entrepreneurs."
In announcing the changes to the League of Legends Championship Series, Riot Games said it will make a final decision regarding the 10 teams in November ahead of the 2018 season.