Wes Edens has made a name for himself in the world of sports by purchasing the NBA’s Milwaukee Bucks with partner Marc Lasry. Former owner Herb Kohl sold the team to the two men for $550 million and they have already increased the franchise’s valuation to over $1 billion. In addition to serving as the co-owner of the Bucks, Wes Edens is also one of the co-founders of the Fortress Investment Group. Before joining Fortress, he cut his teeth at Lehman Brothers as a managing director and a partner. He worked for Lehman Brothers from 1987 to 1993.From there, he would then join BlackRock Asset Investors. He worked in the private equity division from 1993 to 1997. It was at this time that he elected to leave and begin his journey at Fortress Investment Group.
Thanks to the experience that he was able to accrue when it comes to private equity, he is able to garner a sizable amount of take home pay thanks to the work he has done with Fortress Investment Group. When the company was recently sold to SoftBank Group, Edens was able to walk away from the transaction with a whopping $512 million.Now that he is training his focus on the world of sports, Wes Edens has also invested in e-sports. The Cloud9 Challenger’s League Championship Series caught his fancy and he has spent $1.8 million on just one spot.Once the salaries of four different League of Legends team members were included, Fthe price rose to $2.5 million. He is the fourth NBA owner to invest in the league but Edens was not done yet. Once this purchase was made, he set his sights on the launch of his own brand. FlyQuest Sports has established in 2017.
The professional League of Legends team was included as a part of this purchase and the Bucks continue to embrace e-sports. The NBA is in the process of establishing a NBA 2K League that will allow professional gamers to compete against one another for cash prices.Thanks to the efforts of Edens, the Bucks will be one of the 16 NBA teams to have their own 2K team and team apparel/logos will be designed for the occasion. Now that the NBA is rapidly growing in popularity, Edens is betting on console based fandom going forward.In his mind, this is the best way to reach out to the younger demographic and ensure that they remain fans of the NBA in the years to come. The 2K League is expected to become a smashing success around the world and Edens is paving the way for e-sports to become a more integral part of the NBA fan’s existence.