Rick Fox has officially left the company he co-founded, Echo Fox.
Fox initially accused his business partners Amit Raizada and Stratton Sclavos of using investor funds for personal use. On top of this Raizada stood accused of racist behaviour, in April 2019 the former NBA player revealed his intentions to leave the company following Raizada’s questionable behaviour.
The suspected racist behaviour also cost the company its League of Legends franchise slot, which was acquired by the Evil Geniuses for $33 million. However, Riot Games returned $30.5 million to Echo Fox.
“I have chosen to leave Echo Fox, the esports company that I founded, as a method to end the turbulent fighting and instead just continue to advance my visionary interest in being involved in a number of forward-thinking opportunities in the video game space with other strong, credible partners that share my values,” said Fox in a statement.
“On the court and in the business world, teammates are everything and there must be unity and a shared sense of purpose in order to succeed. In the case of Echo Fox, the significant difference of values, ethics and commitment to integrity was very problematic and damaging.”
“I have shared my thoughts on this in my past statements and court filings, and sincerely hope that my experience can help provide further insight for people who should, of course, make their own judgements and determinations. I have learned some very painful lessons, and am relieved to now be moving on towards more positive business experiences.”
Back in January 2019, Fox became Echo Fox’s general partner after paying Raizada $10 million for his company shares. The former NBA star is now free to pursue other interests, namely forming a new company - with Echo Fox’s former president Jace Hall - called Twin Galaxies International.