Los Angeles Dodgers To Invest In Tech Company WSC Sports

As Betonmobile.ru informs, Los Angeles Dodgers co-owner Todd Boehly has invested in WSC Sports, an app that allows users to predict the outcomes of sports events and win money based on their predictions. Other investors include L.A. Clippers owner Steve Ballmer, Philadelphia 76ers owners Joshua Harris and David Sarnoff, Cleveland Cavaliers owner Dan Gilbert, as well as others like Jack Dorsey, who runs Square and Twitter, and Andreessen Horowitz founder Marc Andreessen.

The Dodgers are investing in a startup company

What makes it a startup? The company has yet to launch anything, as all its assets are still under development and in beta testing. It’s also a startup in that it is only months old and is looking to raise capital through an IPO, or initial public offering.

This round of investment will likely go towards legal fees, human resources, marketing, and any other expenses related to launching operations. After years of ownership by Philip Anschutz’s AEG Group (Anschutz owns LA Galaxy), the LA Dodgers agreed to sell for $2 billion—more than three times what their worth just five years ago when then-owner Frank McCourt was facing bankruptcy and scrutiny from Major League Baseball about misappropriation of funds.

Details about the tech company

When asked about their reasons for investing in a sports tech company, Los Angeles Dodgers owner and WSC co-founder Peter Guber said We’re in an age of experiential consumption. There is no better way to help people forget about their worries than by immersing them in a contest that captivates and engages them. We saw potential in finding ways to help fans connect with players on a deeper level through VR. Guber also said that he believes VR will be so impactful and that it's only a matter of time before it goes mainstream.

I believe within ten years, it will have replaced televisions completely! He went on to say This investment isn't us trying to cash in now. It's us trying to get ahead while everyone else slowly catches up. I think we're creating something powerful here. Investors also had good things to say about WSC: Philadelphia 76ers part-owner Michael Rubin commented The chemistry between our organization and 'Wormholes' can best be described as organic.

They fit seamlessly into our vision here in Philly - we couldn't ask for a better partner outside of North Carolina or Michigan. This year is going to be fun, folks; you'll see what I mean when they make that first draft pick!

The investors behind the company

The list of investors behind WSC Sports is impressive, with money coming from NBA, NFL, and MLB owners. Los Angeles Clippers owner Steve Ballmer, New York Knicks owner James Dolan, and Boston Celtics owner Wyc Grousbeck are all listed as investors in WSC. As well as fellow professional sports owners Stanley Kroenke (Arsenal), Joe Lacob (Golden State Warriors), and Robert Kraft (New England Patriots). Other big names include former Apple executive Jeff Robbin who is credited for launching iTunes, former Philadelphia 76ers general manager Sam Hinkie who built The Process into a three-time Eastern Conference champion, and Milwaukee Bucks co-owner Wesley Edens.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes