Memphis Grizzlies co-owner and vice chairman Stephen Kaplan increased his stake in Immortals on Wednesday, marking the third major move by an NBA team owner in esports this week.
Kaplan, who was already among a long list of investors -- highlighted by Machine Shop Ventures -- in Immortals, will now also join the company's board.
"We're grateful for Steve's continued support of the Immortals organization and look forward to working with him on scaling up the esports industry," Immortals CEO Noah Whinston told ESPN.com.
The news of Kaplan's increased investment and responsibility comes on the heels of the Philadelphia 76ers acquiring Dignitas and Apex on Monday and Golden State Warriors co-owner Peter Guber purchasing a controlling interest in Team Liquid on Tuesday.
Immortals houses League of Legends, Overwatch and Counter Strike: Global Offensive teams, as well as a Super Smash Bros. player.
