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Quadrant Steps Back From Esports
The UK-based esports organization Quadrant, founded by Formula 1 driver Lando Norris, has announced its withdrawal from competitive esports, including the Halo Championship Series.
- Quadrant Esports, founded by F1 driver Lando Norris, is exiting all competitive esports, including the Halo Championship Series, to pivot toward content creation, apparel, and motorsport culture.
- The organization reported a loss of £598K ($777K USD) for the 2023 fiscal year.
- The decision to exit competitive gaming follows a seventh-place finish at the 2024 Halo World Championship in Arlington, Texas.
Alpine Sim Racing Partners With G2 Esports’ Sim Racing Division
Alpine Sim Racing and G2 Esports have entered a strategic partnership to consolidate their competitive sim racing operations.
- Alpine Esports has rebranded to Alpine Sim Racing and entered a strategic partnership with G2 Esports to collaborate on competitive sim racing efforts.
- The financial terms of the partnership between Alpine Sim Racing and G2 Esports were not disclosed.
- As part of the deal, Alpine Sim Racing plans to expand its competitive presence beyond Formula 1 titles into other major racing simulation platforms.
Aramco Named Main Partner of Esports World Cup
The Esports World Cup Foundation has entered into a strategic partnership with Aramco, the government-owned petroleum and natural gas company, designating the energy firm as a main partner for the inaugural Esports World Cup.
- Aramco has been named a main partner of the Esports World Cup, a multi-week competition taking place in Riyadh, Saudi Arabia, from July 3 to August 25, 2024.
- As part of the partnership, Aramco will serve as the official title partner of the 'Aramco SIM Arena,' a dedicated space featuring racing simulators for community tournaments.
- The Esports World Cup is funded by a grant from the Saudi Arabian government and is facilitated by the ESL FACEIT Group, a subsidiary of the Saudi-owned Savvy Games Group.
HRH Prince Faisal Privately Assures IESF Members That the Kingdom is Safe for Visitors
HRH Prince Faisal Bin Bandar Bin Sultan Al Saud, in his capacity as president of both the Saudi Esports Federation and the International Esports Federation (IESF), has issued private assurances to IESF members regarding the safety of visitors to Saudi Arabia.
- HRH Prince Faisal, president of both the Saudi Esports Federation and the International Esports Federation (IESF), has issued private assurances regarding the safety of all visitors, including LGBTQ+ individuals, for the upcoming World Esports Championship in Riyadh.
- The World Esports Championship is scheduled to take place in Riyadh, Saudi Arabia, in November.
- Prince Faisal cited Saudi Arabia's low violent crime rates and the successful, incident-free execution of previous international events—such as Formula 1, Formula E, the Dakar Rally, and the Gamers8 esports festival—as evidence of the Kingdom's safety.
M80 and Oxygen Esports Among New Teams Entering 2024 eNASCAR Coca-Cola iRacing Series
The 2024 eNASCAR Coca-Cola iRacing Series marks a significant shift in its competitive landscape with the introduction of six new teams.
- The 2024 eNASCAR Coca-Cola iRacing Series features 20 teams competing for a $300,000 prize pool, with the series champion earning $100,000.
- Six new organizations are joining the 14th season of the series, which begins on February 13 at the virtual Daytona International Speedway.
- Multi-titled esports organizations M80 and Oxygen Esports are among the new entrants, bringing the total number of multi-titled teams in the series to four.
Veloce Media Group Secures $50M Investment
London-based Veloce Media Group has secured a significant financial commitment of up to $50 million from GEM Digital Limited, a Bahamas-based digital asset management firm.
- London-based Veloce Media Group has secured an investment of up to $50 million from the Bahamas-based digital asset management firm GEM Digital Limited.
- The funding is structured as a token subscription agreement tied to VEXT, a blockchain utility and governance token launched by Veloce as part of its transition into Web3.
- Veloce Media Group intends to utilize the capital to acquire additional racing and gaming-related properties.