According to ESPN, the terms of the deal between the Heat and the Misfits franchise, which was launched in 2016 by Syfy channel co-founder Mitchell Rubenstein and his son-in-law Ben Spoont, were not disclosed.
As a part of the deal, Misfits and the Heat will cross-promote each other, and the Heat will assist Misfits in sponsorship, brand promotion and marketing. Misfits will also rebrand to match the Heat’s colors.
“The Miami Heat pride ourselves on being innovative in all aspects of sports and business,” Heat chief executive officer Nick Arison said of the investment. “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 compete in League of Legends, Super Smash Bros., Overwatch, Heroes of the Storm and Hearthstone. The team will be competing in the 2017 Spring EU LCS, which will start on Jan. 19 in Germany.
The Heat are the second team to “fully integrate into an eSports team,” according to ESPN. Miami joins the Philadelphia 76ers, who bought a majority stake in Team Dignitas and Apex Gaming in September.
Read more at ESPN.