Sources: Milwaukee Bucks co-owner launches esports brand FlyQuest

Hai "Hai" Lam was a retired veteran of Cloud9, but returned in brief stints to play as a temporary substitute. He's currently the mid laner for the Milwaukee Bucks-backed League of Legends team FlyQuest. Riot Games

Milwaukee Bucks co-owner Wesley Edens and Fortress Investment Group will launch esports brand FlyQuest in the coming weeks, sources close to the group and team tell ESPN.

The team will feature only one esports team upon launch, the League of Legends team that Edens and the group purchased from Cloud9 for $2.5 million in December. The group is also expected to look at various other potential esports investments throughout the year but has yet to settle on any other form of expansion, sources say.

FlyQuest will be their first outing into esports after having acquired the Milwaukee Bucks, in tangent with hedge fund manager Marc Lasry, in 2014. To help run the FlyQuest brand, the team has picked up Eden's son Ryan, as well as Fortress Investment Group managing director Sarah Watterson, who has worked closely with the Bucks franchise over the past few years.

FlyQuest has acquired four of Cloud9 Challenger's players for $700,000 of the $2.5 million total. The team has come to agreements with top laner An "Balls" Van Le, mid laner Hai "Hai" Du Lam, AD carry Johnny "Altec" Ru, and support Daerek "LemonNation" Hart, according to sources. It has not found a new jungler at this time.

The team will start competing in the North American League Championship Series on Jan. 20.

Wesley Edens and FlyQuest did not respond to a request to comment on this report.