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Bloomberg

Alibaba Group co-founder Joe Tsai is expanding his sports empire, buying a minority stake in competitive gaming franchise G2 Esports.
The owner of the Brooklyn Nets and Barclays Centre is investing US$10 million, valuing the Berlin-based franchise at around US$100 million, according to two people familiar with the transaction. 
G2 is hoping to use the investment from J Tsai Sports – and Tsai’s expertise – to expand in Asia, more specifically China, where e-sports are incredibly popular but Western teams have yet to fully penetrate.
There are more gamers in China than there are people in the United States. It is also the biggest market for gaming revenue, according to research firm Newzoo.

The hope is that Tsai’s experience building an e-commerce business in China will help give G2 an edge.
Alibaba owns the South China Morning Post.
“The biggest challenge for Western teams is to properly play to Chinese culture, to understand the true thinking and mentality of the Chinese audience,” said Jens Hilgers, co-founder and chairman of G2. “That’s something that we will pay a lot of attention to, but with the support of a Chinese owner in our group, hopefully it goes a bit easier.” 
Tsai, who has a net worth of US$11.9 billion, was born in Taiwan and moved to the US as a teenager.
In October, when Houston Rockets general manager Daryl Morey tweeted his support for protesters in Hong Kong – creating an international crisis for the NBA – Tsai was the league’s most vocal defender of mainland China’s position. He wrote an open letter to NBA fans explaining why many Chinese considered Morey’s tweet so offensive. 
Stay optimistic and nurture talent, Alibaba executive tells fresh grads
G2 is not looking to build gaming teams in China, but it is working to attract followers through video and social media. The franchise is hiring Mandarin speakers, writers and videographers to help it cross the cultural divide.
“We want to be, from a talent perspective, a Western team,” Hilgers said. “But we want to build fans so that when it comes to international competition, these fans can look to G2 Esports and say, ‘I’ve heard about these guys, I follow these guys, and that’s my favourite team when I don’t see my home favourite’.”
One of the world’s most valuable e-sports franchises, G2 has 10 teams that play a number of different games, including Fortnite, Counter-Strike: Global Offensive and Rocket League. It also has a franchised slot in Europe’s main League of Legends circuit, operated by publisher Riot Games.
G2 raised US$17.3 million earlier this year from a group that included Seal Rock Partners and Everblue Management. Representatives for the team and J Tsai Sports declined to comment on G2’s valuation after this most recent investment. 

Tsai first acquired a stake in the Nets in 2018. Earlier this year, he bought the rest of the team, and its arena, paying a total of US$3.5 billion, including debt. He also owns the San Diego Seals, an indoor lacrosse team, and the New York Liberty, a WNBA franchise, plus investments in the Premier Lacrosse League and MLS franchise LAFC. 
Other billionaire sports owners with video-game franchises include Stan Kroenke, owner of the St Louis Rams, Denver Nuggets and Colorado Avalanche; Cleveland Cavaliers owner Dan Gilbert; and Dallas Cowboys owner Jerry Jones.
G2 is also planning to open an office in New York City early next year. That will give the franchise a direct presence in the country’s largest media market and position it in the same city as the Nets, opening the possibility for increased collaboration with the NBA team and its arena. 

For more insights into China tech, sign up for our tech newsletters, subscribe to our award-winning Inside China Tech podcast, and download the comprehensive 2019 China Internet Report. Also roam China Tech City, an award-winning interactive digital map at our sister site Abacus.



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Joe Tsai is expanding his sport empure. Photo: AP

In this Oct. 9, 2019, photo, a worker takes down a billboard advertising an NBA preseason basketball game on Thursday between the Los Angeles Lakers and Brooklyn Nets in Shanghai, China. The NBA has postponed Wednesday's scheduled media sessions in Shanghai for the Brooklyn Nets and Los Angeles Lakers, and it remains unclear if the teams will play in China this week as scheduled. (AP Photo/File)

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Joe with the ball

Houston Rockets guard James Harden dribbles the ball during a training session by the NBA basketball team in Tokyo on October 7, 2019. - The Rockets are in Tokyo to play two exhibition matches this week. (Photo by Toshifumi KITAMURA / AFP)

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Joe Tsai speaks during a news conference before a WNBA exhibition basketball game between the New York Liberty and China in New York in May. Photo: AP

FILE - This is a May 16, 2018, file photo showing then-Turner Broadcasting President David Levy attending the Turner Networks 2018 Upfront in New York. The Brooklyn Nets have a new owner and a new CEO. Alibaba co-founder Joe Tsai completed his purchase of the team and Barclays Center on Wednesday, Sept. 18, 2019, then announced that he had hired former Turner Broadcasting President David Levy to oversee both.(Photo by Evan Agostini/Invision/AP, File)

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Gaming franchise seeks to use funds and Alibaba co-founder’s expertise to expand in China
G2 working to attract followers on social media, hiring Mandarin speakers, writers and videographers to help it cross cultural divide



Gaming franchise seeks to use funds and Alibaba co-founder’s expertise to expand in China.


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