The Esports Advocate
Esports business news: deals, legal, and governance.
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HLTV Partners With PIF-Backed FACEIT
The editorial platform HLTV has entered into a strategic partnership with the competitive gaming platform FACEIT, a subsidiary of the ESL FACEIT Group.
- ESL FACEIT Group (EFG) and the editorial site HLTV have entered a partnership to integrate FACEIT competitive gaming data directly into the HLTV platform.
- The integration allows users to link their HLTV and FACEIT accounts to display ranks, badges, and achievements, alongside enhanced player profiles featuring all-time statistics.
- EFG is owned by Savvy Games Group, which is a subsidiary of Saudi Arabia’s Public Investment Fund (PIF) and chaired by Crown Prince Mohammed bin Salman.
Riot Reveals Global Esports Partnership With HP-Owned Brands
Riot Games has entered into a significant global technology partnership with HP, specifically leveraging the OMEN by HP and HyperX brands.
- Riot Games has signed a global technology partnership with HP, designating OMEN by HP and HyperX as official partners for its esports ecosystem.
- The partnership covers three major titles: League of Legends, the Valorant Champions Tour (VCT), and Teamfight Tactics.
- The agreement excludes Riot Games' Wild Rift esports program.
Riot Games Extends LEC Deal With KitKat to 2026
Riot Games Europe has secured a three-year extension of its partnership with the confectionery brand KitKat, ensuring the company remains a primary sponsor for its European esports ecosystem through 2026.
- Riot Games has extended its partnership with KitKat for the League of Legends EMEA Championship (LEC), EMEA Masters, and European Regional Leagues through 2026.
- The multi-year agreement continues a partnership that first began in 2020, though the specific financial terms of the extension were not disclosed.
- KitKat will maintain prominent marketing placement during official competitions, including branding during technical pauses branded as 'Have a Break' and during Champions Select phases.
IndyCar Signs Multi-Year Deal with Sim Racing Platform iRacing
IndyCar has entered into a new multi-year licensing agreement with the simulation racing platform iRacing, marking a significant reunion for the two brands following a two-year hiatus.
- IndyCar has signed a multi-year licensing agreement with iRacing, ending a two-year hiatus and bringing the series back to the simulation platform.
- The partnership includes the return of the virtual Indianapolis 500 and broader integration of IndyCar series elements into iRacing's offerings.
- This deal follows IndyCar’s termination of an exclusive agreement with Motorsport Games in November 2023, after that company failed to deliver a promised racing game.
Nikolaj Nyholm Returns as CEO of Astralis
The Danish esports organization Astralis has announced a significant leadership transition, with founder and former board chairman Nikolaj Nyholm returning to the role of CEO.
- Nikolaj Nyholm has returned as CEO of the Danish esports organization Astralis, effective January 9, 2024.
- Outgoing CEO Anders Hørsholt has stepped down from his position to transition into roles as a strategic advisor and member of the board of directors.
- Hørsholt’s nomination to the board will be formally presented to shareholders at the company's general meeting on April 9, 2024.
BLAST Premier Expands to 16 Partnered Teams in 2024
The Denmark-based tournament organizer BLAST has expanded its Counter-Strike 2 esports ecosystem by increasing the number of partnered organizations in the BLAST Premier Affiliate Member Teams program to 16 for the 2024 season.
- BLAST Premier has expanded its Affiliate Member Teams program to 16 organizations for the 2024 season.
- The four new organizations joining the program are Falcons, GamerLegion, Team Spirit, and Virtus.pro.
- Cloud9 has joined the program as a replacement for Evil Geniuses, which sold its league spot at the end of 2023.
OverActive Media Seeks to Amplify Global Esports Reach with Acquisition of KOI and Movistar Riders
OverActive Media, a Toronto-based esports organization, has entered into a non-binding letter of intent to acquire two prominent Spanish esports entities: KOI and Movistar Riders.
- Toronto-based OverActive Media has signed a non-binding letter of intent to acquire Spanish esports organizations KOI and Movistar Riders.
- The acquisition involves an all-share purchase price of up to $5.7 million CAD ($4.27 million USD) for each entity, totaling up to 60 million common shares of OverActive Media.
- The initial payment consists of 45 million shares valued at approximately $8.55 million CAD ($6.41 million USD), with an additional 15 million shares tied to EBITDA performance targets through 2028.
GameSquare Unloads Frankly’s Radio Business Assets for $3.4M USD
GameSquare, a publicly traded esports and gaming company, has executed a strategic divestment of non-core assets to streamline operations and improve its financial position.
- GameSquare sold the non-core radio business assets of its subsidiary, Frankly Media, to SoCast for $3.4 million USD.
- GameSquare retired a $5 million USD debenture due in February 2024 and replaced it with a new $5.8 million USD convertible note.
- The new $5.8 million USD convertible note carries a 12.75% interest rate, has a two-year term, and is convertible into common shares at $5 per share.
Chengdu to Host 2024 League of Legends Mid-Season Invitational
The 2024 League of Legends Mid-Season Invitational (MSI) is scheduled to take place in Chengdu, China, from May 1 to May 19, 2024.
- Riot Games will host the 2024 League of Legends Mid-Season Invitational (MSI) in Chengdu, China, from May 1–19, marking the city's first time hosting a major League of Legends global event.
- The winner of the 2024 MSI will receive a direct invitation to the 2024 League of Legends World Championship, which is scheduled for September 25 to November 2 in Berlin, Paris, and London.
- The Chengdu Gaoxin District government plans to invest ￥240M RMB ($33.5M USD) over the next three years to develop the local esports industry.
BLAST Secures Multi-Year Deal for Fortnite and Rocket League Esports
Denmark-based tournament organizer BLAST has entered into a multi-year partnership with Epic Games to manage the competitive ecosystems for Fortnite and Rocket League.
- Tournament organizer BLAST has signed a multi-year deal with Epic Games to manage the Fortnite Championship Series (FNCS) and the Rocket League Championship Series (RLCS).
- Under the agreement, BLAST assumes responsibility for all event production, broadcasting, marketing, and commercial rights for both competitive scenes.
- This partnership expands on a previous collaboration between the two companies, which included the $4 million USD FNCS Global Championship held in Copenhagen in October 2023.
Riot Confirms Negotiations With Saudi’s Esports World Cup Foundation
Riot Games has confirmed that it is in active negotiations with the Esports World Cup Foundation regarding potential participation in the Saudi Arabian government-backed tournament series.
- Riot Games has confirmed it is in active negotiations with the Esports World Cup Foundation regarding potential participation in the Saudi-backed tournament series.
- No final agreements have been reached, and Riot is currently evaluating whether such third-party events can fit into its 2024 competitive calendar.
- Riot stated that it is exploring third-party partnerships to provide teams and players with additional revenue streams and competitive opportunities, citing the 2023 Asian Games as a successful model.
NODWIN Gaming Injects $3.9M USD Into Freaks 4U Gaming
NODWIN Gaming, a subsidiary of India-based Nazara Technologies, has entered into an agreement to provide a €3.6 million (approximately $3.9 million USD) convertible note to Berlin-based esports marketing and tournament organization firm Freaks 4U Gaming.
- NODWIN Gaming International Pte. Ltd. has signed an agreement to provide a €3.6M ($3.9M USD) convertible note to Berlin-based esports marketing and tournament organizer Freaks 4U Gaming.
- The convertible note can be converted into 7,366 shares of Freaks 4U Gaming at a future date, implying a company valuation of approximately €51.2M ($56.3M USD).
- NODWIN Gaming, a subsidiary of India-based Nazara Technologies, intends to use this partnership to strengthen its presence and capabilities in the PC gaming sector.