The New York Yankees have partnered with Vision Esports, the ownership group that is the largest shareholder in Echo Fox, Vision Entertainment and statistics platform Twin Galaxies.

"The New York Yankees are thrilled to partner with Vision Esports and its diverse portfolio of esports companies,” Yankees co-chairperson Hal Steinbrenner said in a statement. “Guided by an impressively skilled and sports-savvy leadership team, Vision Esports is transcending the industry with a bold, innovative approach to their business, and we are excited to enter into this dynamic arena as their partner."

The Yankees have announced a new partnership with Vision Esports to help create and manage an “ecosystem” of esports properties. pic.twitter.com/gARezbFVtL — New York Yankees (@Yankees) October 19, 2017

According to the press release, the Yankees will aid in the management of the three organizations under Vision Esports in "a manner very similar to traditional professional sports properties." This includes marketing and sponsorship initiatives as well as "maximizing revenue opportunities" from merchandising, advertising and broadcast rights to name a few.

"The New York Yankees brand is synonymous with success, and we are thrilled to welcome the organization to the Vision Esports team,” Vision Esports general partner Stratton Sclavos said in a statement.

“In every business, you are known by the company you keep, and we cannot be more pleased to be a part of the New York Yankees organization. We look forward to exploring synergies between the Yankees and all of our portfolio companies to maximize the opportunity for a successful esports ecosystem for teams, players and fans.”

The news of the partnership comes on the heels of reports from ESPN Esports' Jacob Wolf and theScore esports' Gabriel Zoltan-Johan that the Rick Fox-led organization has been accepted into the franchised 2018 NA LCS.

Sasha Erfanian is a news editor for theScore esports. You can follow him on Twitter.