League of Legends
GameBy Riot Games · Released Oct 27, 2009
Documents about League of Legends
Breaking: Layoffs Hitting CLG, Sale or Shutdown Rumored
The Los Angeles-based esports organization Counter Logic Gaming (CLG) is undergoing significant organizational restructuring, characterized by widespread staff layoffs.
- Esports organization CLG is undergoing significant layoffs, as confirmed by multiple current employees.
- Reports suggest that Madison Square Garden Entertainment, the parent company of CLG, is considering either a sale of the brand or a complete shutdown.
- Under the rumored restructuring, CLG would cease most operations while maintaining only its League of Legends Championship (LCS) team.
Warner Music, Secretlab Return as Partners for EMEA Masters 2023
Riot Games has confirmed the return of Warner Music and Secretlab as supporting partners for the 2023 League of Legends EMEA Masters.
- Riot Games has renewed its partnerships with Warner Music and Secretlab for the 2023 League of Legends EMEA Masters tournament.
- Warner Music returns as the official music supplier for the fifth consecutive year, providing its music catalog for event broadcasts.
- Secretlab continues its role as the official gaming chair partner, supplying its TITAN Evo line for use during major competitions.
TSM Hitting Pause on Some Esports Efforts
The Los Angeles-based esports organization TSM is scaling back its competitive operations across multiple titles.
- TSM is scaling back its esports operations across multiple titles and is considering the sale of its League of Legends Championship Series (LCS) franchise.
- The organization's financial instability is largely attributed to the collapse of its 10-year, $210 million partnership with the bankrupt cryptocurrency exchange FTX.
- Despite the reduction in competitive esports efforts, TSM intends to continue the development and operation of its Blitz gaming application.
Astralis Board Initiates Strategic Review
The board of directors for the esports organization Astralis has initiated a formal strategic review to evaluate the company’s future position and ownership structure.
- The board of directors at esports organization Astralis has initiated a strategic review to explore options including delisting from the stock exchange, issuing new shares, or selling company assets.
- The review was prompted by the company’s share price trading at a material discount compared to its initial public offering price of DKK 8.95.
- Astralis reported net revenue of DKK 87.5M ($12.8M USD) for fiscal year 2022, an increase from DKK 75.0M ($10.9M USD) in 2021.
OverActive Media Makes Strategic Staff Cuts
OverActive Media, a Canadian-based esports organization, implemented a series of strategic staff reductions in March 2023.
- OverActive Media has initiated a restructuring plan involving staff cuts, with estimates suggesting between 5 and 10 employees have been impacted.
- The company has eliminated specific roles and shifted responsibilities among remaining staff, with reports indicating that further layoffs may occur.
- Confirmed departures include Connor Chambers, team manager for the Toronto Ultra, and Cameron Bloom, marketing manager for MAD Lions.
Tencent Financial Results: 2022
Tencent’s 2022 financial results reveal a historic turning point for the company, which recorded its first annual revenue decline since going public in 2004.
- Tencent recorded its first annual revenue decline since its 2004 IPO, with total revenue falling 1% year-over-year to 554.6 billion yuan ($79.6 billion).
- Profitability metrics saw significant contraction in 2022, as operating profit dropped 13% to 235.7 billion yuan and net profit fell 17% to 188.7 billion yuan.
- The gaming division, representing 43% of total revenue, saw domestic gaming revenue contract by 4% to 123.9 billion yuan.
Chinese, Russian Governments Will Work Together for International Esports Events
The Chinese and Russian governments have formally committed to a partnership aimed at developing international esports events, marking a significant intersection of competitive gaming and high-level diplomacy.
- Presidents Vladimir Putin and Xi Jinping have formally agreed to cooperate on international sports and esports events, marking the first time the Chinese leader has explicitly acknowledged esports in a joint diplomatic statement.
- China has committed to supporting Russia in hosting the 'Future Games' esports event in Kazan, Russia, scheduled for 2024.
- The collaboration is a strategic response to Russia's exclusion from international sporting events following the ongoing war with Ukraine.
Esports Engine Co-Founder and President Adam Apicella Is Leaving the Company
Adam Apicella, co-founder and president of the esports production firm Esports Engine, has departed the company.
- Adam Apicella, co-founder and president of Esports Engine, has mutually agreed to depart the company.
- The exit follows the March 1, 2023, acquisition of Vindex—the parent company of Esports Engine—by the ESL FACEIT Group.
- ESL FACEIT Group is owned by Savvy Games Group, which is backed by the Saudi government’s Public Investment Fund.
EXCEL Esports Partners With HSBC UK
London-based esports organization EXCEL Esports entered into a strategic partnership with HSBC UK in March 2023.
- London-based esports organization EXCEL Esports has signed a partnership with HSBC UK, naming the bank its official financial services partner and financial health provider.
- The collaboration focuses on financial education for young people and entrepreneurs, specifically promoting the HSBC UK Education Network, which has previously helped over 445,000 individuals build financial skills.
- The partnership includes branding across EXCEL’s social media and streaming channels, collaborative content creation, and prominent jersey placement on all competitive teams.
Olympic Council of Asia Removes Hearthstone From Hangzhou Asian Games
The Olympic Council of Asia has officially removed the digital card game Hearthstone from the roster of esports titles for the Hangzhou Asian Games.
- The Olympic Council of Asia has removed Hearthstone from the Hangzhou Asian Games competition lineup.
- The removal is a direct consequence of the terminated partnership between Activision Blizzard and NetEase, which resulted in the shutdown of all Hearthstone servers in mainland China.
- With the removal of Hearthstone, the total number of official esports titles for the Hangzhou Asian Games has been reduced to seven.
Swiss Watchmaker TISSOT Sponsors Edward Gaming
Swiss watchmaker Tissot has entered into a sponsorship agreement with the Chinese esports organization Edward Gaming (EDG), establishing itself as the team’s exclusive watch partner.
- Swiss watchmaker TISSOT has signed an exclusive partnership with the Chinese esports organization Edward Gaming (EDG) for its League of Legends Pro League (LPL) team.
- This deal marks the first time an LPL team has secured a sponsorship agreement with an international watch brand.
- The TISSOT brand will be featured on the left shoulder of EDG team jerseys, though players are not required to wear the watches during competitive matches.
DRX Partners With LG
South Korean esports organization DRX has entered into a strategic partnership with electronics manufacturer LG.
- South Korean esports organization DRX has entered into a partnership with electronics manufacturer LG.
- Under the agreement, DRX will promote LG’s 27-inch and 41-inch OLED displays through social media, marketing campaigns, and branding on team jerseys and online platforms.
- The financial terms of the partnership between DRX and LG were not disclosed.
Companies behind it
Riot Gamesdeveloper, publisher, owner319
Overwolfowner25
Tencent Holdingspublisher703- NAVERowner2
- Riotowner321
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