The Esports Advocate
Esports business news: deals, legal, and governance.
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Wouter Sleijffers Joins ELO Agency as a Co-Founder
Wouter Sleijffers, the former CEO of Fnatic and GIANTX, has joined the London-based ELO Agency as a co-founder.
- Former Fnatic and GIANTX CEO Wouter Sleijffers has joined ELO Agency as a co-founder.
- ELO Agency was established in April 2024 by former FACEIT and ESL events executives Roald Van Buuren and Jan Moerland.
- The London-based agency specializes in providing event management solutions for game developers, esports teams, and sports clubs.
Taobao Sponsors LGD Gaming Dota 2 Team
Taobao, the e-commerce platform owned by Alibaba Group, has entered into a sponsorship agreement with the Chinese esports organization LGD Gaming.
- Taobao, the e-commerce platform owned by Alibaba Group, has signed a sponsorship deal with the LGD Gaming Dota 2 division.
- The partnership is exclusive to the LGD Gaming Dota 2 team and does not extend to other divisions operated by the organization.
- As part of the branding agreement, the Taobao logo will be displayed on the center chest of the team's official jerseys.
Qiddiya City Club Program Details
The Qiddiya City Club Program serves as a strategic financial incentive initiative designed to attract international esports organizations, game developers, and publishers to Saudi Arabia’s Qiddiya City, a massive government-funded development project.
- The Qiddiya City Club Program is a Saudi government-funded incentive scheme designed to attract over 30 esports organizations, 25 game studios, and 10 tournament organizers to a new $350B mega-city project near Riyadh.
- Participating organizations receive an annual marketing budget of $9.5M from 2024–2029, along with subsidies for administrative staff, pro-team bootcamps, and facility establishment costs.
- The program mandates strict requirements, including the establishment of a Saudi legal entity by H1 2025, the employment of 12 full-time administrative staff at the Qiddiya facility by launch, and the permanent relocation of one professional team to the city by 2028.
NBA 2K League Going on Hiatus
The NBA 2K League, a joint venture between the National Basketball Association and Take-Two Interactive, has announced a significant operational shift, transitioning from its established competitive circuit format into a broader global digital entertainment business.
- The NBA 2K League is entering a 16-to-18-month hiatus to undergo a major structural transition into a global digital entertainment business.
- The league's current competitive circuit will be replaced by a new digital media brand that will feature live events and a revamped competitive league format.
- The restructuring process has resulted in significant layoffs, including the termination of broadcast staff, general managers, and coaches.
NODWIN Gaming Acquires Freaks 4U Gaming
NODWIN Gaming, a subsidiary of Nazara Technologies, has entered into definitive agreements to acquire 100% of the equity in Berlin-based esports and gaming marketing agency Freaks 4U Gaming.
- NODWIN Gaming, a subsidiary of Nazara Technologies, has entered into definitive agreements to acquire 100% of the equity in Berlin-based agency Freaks 4U Gaming.
- The acquisition will be completed across several tranches through a share swap valued at up to €30.3 million ($32.5 million USD).
- This deal increases NODWIN’s ownership from its previous 13.51% stake, which was established through an €8 million ($8.67 million USD) investment finalized in January 2024.
Unilever Brings Top Brands to Esports World Cup
The Esports World Cup Foundation has secured a sponsorship agreement with Unilever, featuring the company’s CLEAR MEN Shampoo and AXE Body Spray brands.
- Unilever brands CLEAR MEN Shampoo and AXE Body Spray have signed on as official partners for the Esports World Cup in Riyadh, Saudi Arabia.
- The Esports World Cup is a multi-week, multi-discipline event running from July 3 to August 25, 2024.
- While financial terms were not disclosed, the partnership aims to reach the 18-24 male demographic in the region through venue branding, broadcast presence, and on-site product activations.
TikTok Partners With the Esports World Cup
TikTok has entered into a strategic partnership with the Esports World Cup (EWC) Foundation to serve as a digital platform for the inaugural eight-week international competition held in Riyadh, Saudi Arabia.
- TikTok has entered a partnership with the Esports World Cup to serve as a content platform for the eight-week tournament held in Riyadh, Saudi Arabia.
- The Esports World Cup runs from July 3 to August 25, 2024, and is facilitated by the ESL FACEIT Group, a subsidiary of the Saudi government-owned Savvy Games Group.
- TikTok will launch a dedicated in-app EWC Hub to aggregate content from broadcasters, teams, and players, while also producing exclusive behind-the-scenes reports and live broadcasts.
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.
HONOR Named Main Partner of Esports World Cup
The Esports World Cup Foundation has secured a partnership with global mobile phone manufacturer HONOR, naming the company a main partner for the inaugural Esports World Cup.
- HONOR has been named a main partner of the Esports World Cup, which takes place in Riyadh, Saudi Arabia, from July 3 to August 25, 2024.
- The HONOR 200 Pro smartphone will serve as the official device for mobile esports competitions, including Free Fire, Honor of Kings, and the Women’s ML:BB tournament.
- 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.
Star Sports Network Secures Esports World Cup Media Rights
Star Sports Network, a subsidiary of Disney Star, has secured the exclusive media rights to broadcast the Esports World Cup within India.
- Star Sports Network, a subsidiary of Disney India, has secured the exclusive broadcasting rights for the Esports World Cup in India.
- The Esports World Cup is a multi-week, multi-discipline tournament taking place in Riyadh, Saudi Arabia, running from July 3 to August 25, 2024.
- Financial terms of the media rights agreement between Star Sports Network and the Esports World Cup Foundation were not disclosed.
Did Vindex’s Sale to EFG Leave Esports Engine Employees Empty-Handed?
The acquisition of Vindex by ESL FACEIT Group (EFG) in March 2023 has drawn scrutiny regarding the treatment of employees at Esports Engine, a Vindex subsidiary.
- When Vindex was sold to ESL FACEIT Group (EFG) in March 2023, most Esports Engine employees with equity received no financial benefit from the sale, mirroring a similar outcome for staff during the 2015 sale of Major League Gaming to Activision Blizzard for $46 million.
- The acquisition deal was structured to prioritize debt repayment and retention pools, effectively keeping the final sale price below the threshold required to trigger equity payouts for employees.
- Esports Engine management and staff were largely excluded from the acquisition negotiations, with many learning of the finalized deal only after it had closed.
Esports World Cup Partners With LG UltraGear
The Esports World Cup Foundation has secured a partnership with LG UltraGear, designating the brand as the main partner and exclusive gaming monitor sponsor for the inaugural Esports World Cup.
- The Esports World Cup Foundation has named LG UltraGear as the exclusive gaming monitor sponsor and a main partner for the inaugural Esports World Cup.
- The competition will take place in Riyadh, Saudi Arabia, from July 3 to August 25, 2024.
- LG UltraGear will supply approximately 990 of its 32GS95UE OLED gaming monitors for use during tournament matches and at interactive brand booths.