One of the most successful e-sports teams announced today that it will move to Dallas after oil magnate Ken Hersh and Hersh Interactive Group made a "significant" investment in the company.

The size of the investment was not disclosed, though a report last month by ESPN put it at up to $35 million. The team's 50 players and the headquarters of Envy Gaming Inc., are relocating from Charlotte, N.C., to Dallas, according to its announcement.

"We intend to make North Texas a leading-edge market in the global development and expansion of e-sports," said Randy Chappel, managing director at Hersh Interactive Group.

Team Envy owner Mike Rufail is a Texas native -- born and raised in Lufkin. (Courtesy of Team Envy / Courtesy of Team Envy)

Chappel said in the announcement that by partnering with Team Envy and its owner and CEO, Mike Rufail, "we are delivering a franchise with a storied history of winning to North Texas, and we are actively working to invest in areas that will improve the structure and environment of e-sports for players, teams, leagues and fans."

ESPN said that Team Envy will assume the Austin-Dallas spot in the Overwatch League.

E-sports has exploded in popularity in recent years, with fans filling arenas to watch players square off in popular multiplayer video game competitions. Top players can make six figures.

The Overwatch League by Activision Blizzard is set to launch later this year. It's part of an effort by game publishers to capitalize on the estimated 30 million registered players of the game and offer them a live experience, The Wall Street Journal reported.

Other publishers such as Electronic Arts and Take Two Interactive Software are also developing leagues, according to The Journal.

In the announcement, Team Envy noted that its owner and CEO, Rufail, is a native of Lufkin.

Team Envy has had a string of success in e-sports competitions in recent years and has won more competitions in multiple games than any other franchise, the announcement said. It was recognized as 2016 Sports Team of the Year from the eSports Industry Awards.

"Envy teams have played live in front of tens of thousands of fans at some of the largest arenas in the world. There is nothing like being surrounded by 20,000 passionate fans in a live setting, and with the support of Ken Hersh and Hersh Interactive Group, we will build that type of thrilling fan experience in Dallas," Rufail said in the news release.