From sponsorships to industry-wide announcements, Insider Sport has you covered when it comes to the world of esports.
This week’s edition highlights the latest developments in the esports sector, including North American esports conglomerate GameSquare selling Complexity Gaming to an investor group led by the esports organisation’s founder and CEO Jason Lake.
Complexity Gaming sold to Jason Lake-led investor group for $10m
North American esports conglomerate GameSquare has sold Complexity Gaming to an investor group led by the esports organisation’s founder and CEO Jason Lake.
Complexity’s assets and intellectual property have been purchased by the investor group Global Esports Properties for $10.36m, following GameSquare and FaZe Clan shareholders approving their merger earlier this week.
GameSquare has also released additional financial details regarding its purchase, including Global Esports Properties paying the company $750,000 when the transition is closed.
Additionally, GameSquare and Global Esports Properties have signed a three-year seller finance note worth approximately $9.61m, meaning the seller agrees to receive a portion of the acquisition proceeds in a series of debt payments
Lake commented: “This is an epic moment in the history of Complexity and we’re grateful for this exciting opportunity.
“I’d like to thank the Jones and Goff families and everyone at GameSquare for our years of successful collaboration. Together we’ve significantly grown Complexity’s revenues and built a financially stable organisation.
“It’s now time to write the next chapter in our legendary story and I’m confident our loyal fans will greatly enjoy the years ahead.”
PGL announces three-year plan for eight $1m Dota 2 tournaments
Esports tournament organiser PGL has shared plans for the future of its Dota 2 tournaments, which include a sizable investment in the game’s ecosystem.
The company shared that at least eight large-scale LAN tournaments are planned between 2024 and 2026, with each offering a $1m prize pool. This year the company will host two events, the first taking place in Bucharest, Romania in May 2024.
Specifics locations for the future tournaments have not yet been disclosed. However, PGL did announce that the company is committed to creating three tournaments in 2025 and 2026.
The dates for each of the tournaments were also shared, with tournaments taking place in March, April and November in both years.
PGL shared the following via its website: “The commitment to a three-year series of tournaments showcases PGL’s unwavering support for the DOTA 2 community and its passion for delivering top-tier esports events.
“Fans worldwide can look forward to experiencing the pinnacle of DOTA 2 competition, brought to life by PGL’s renowned production quality and innovative approach to esports tournaments.”
VCT 2024 Kickoff events record impressive viewership
VALORANT’s inaugural VCT Kickoff events for the 2024 season concluded, with VCT Americas’ Kickoff becoming the ninth-highest-viewed event in the game’s history.
VCT 2024 Americas Kickoff reported more than 820,000 viewers, with VCT 2024 Pacific Kickoff and VCT 2024 EMEA Kickoff recording peak viewership of 460,000 and 420,000, respectively, according to data platform Esports Charts.
Created this year, the Kickoff series of events aims to commemorate the start of the competitive season in each region. In total, there are four Kickoff events in total: Americas, EMEA, Pacific and China, with the latter being the latest major region to receive a VCT partner league.
Overall, the tournaments were a success. Building on from last year, VCT Pacific saw 399,000 viewers at its peak last season, whereas the EMEA League had around 300,000 peak viewers last season.
Due to the limitations surrounding viewership data in China, the region recorded just above 61,000 viewers at its peak on Esports Charts. However, the number would be much higher in reality if Chinese platforms could be taken into account.
Elite Series partners with Orange for naming rights
Benelux-focused League of Legends regional competition Elite Series has announced a major partnership with telecommunications company Orange, with the league being renamed to ‘Orange Elite Series: League of Legends’ for the rest of its 2024 season.
The partnership with Orange, one of the prominent telecommunications companies in Europe, will see the two parties work on esports activations which include educational, challenge and league-focused content.
Miguel Aguza, Consumer & Business Communication Director at Orange, commented on the deal: “Orange is the premier choice of telco providers for gamers and esports enthusiasts across the Benelux.
“We’re excited to see the heights the Orange Elite Series: League of Legends will reach this year and to further provide gamers with added value to their passions through our lightning-fast network and engaging partner content to up their game.”
