Each week, ESI Digest breaks down the weekly happenings in the esports industry, making sense of things so you don’t have to. As well as being housed on YouTube, ESI Digest is available on all major podcast platforms and is also available in written form below.
In this week’s ESI Digest, we cover GameSquare Esports’s Complexity Gaming acquisition, Team BDS purchasing Schalke 04’s LEC spot, Guild Esports’s financial report, MPL Brazil’s launch, Williams Racing partnering with Resolve.
This edition of the ESI Digest is in partnership with Omicoach.
GameSquare Esports acquires Complexity Gaming for $27m
North American esports organisation Complexity Gaming has been acquired by GameSquare Esports, the parent company of esports agency Code Red Esports.
The acquisition will cost a total of $27m (~ £19.5m) in an all-stock transaction. As a result, Complexity’s current ownership group will become ‘major shareholders’ of GameSquare Esports.
Schalke 04 LEC spot sold to Team BDS for €26.5m
German football club Schalke 04 has completed the sale of its League of Legends European Championship (LEC) licence to Swiss esports organisation Team BDS.
According to the announcement by Schalke 04 Esports, the spot will be sold at the end of the Summer Split 2021 for €26.5m (~£22.8m). The news about Schalke 04 potentially looking to sell its LEC spot were confirmed by the organisation earlier in February.
Guild Esports reports £4.3m loss over a six month period
UK-based esports organisation Guild Esports has announced a loss of £4.3m over a six month period, ending 31st March 2021.
The figure was revealed following the release of Guild’s unaudited financial results earlier today. The organisation has cited its investment in esports teams, the Guild Academy, content creation, and corporate infrastructure as a factor in the loss.
Mobile Legends: Bang Bang creates esports league in Brazil
Game developer MOONTON Games has expanded its Mobile Legends: Bang Bang Professional League (MPL) structure to include Brazil.
This is the first MPL competition to take place outside of Southeast Asia. Its inaugural season will feature a total of eight teams and a $30,000 (£21,551) prize pool. Six teams will be invited to compete in MPL Brazil, with two teams coming from open qualifiers.
Williams Racing partners with Resolve, enters RLCS Season XI
UK-based Formula One team Williams Racing has announced it will participate in the eleventh season of the Rocket League Championship Series (RLCS).
As a result of the expansion, the team has joined forces with UK-based esports organisation Resolve Esports in order to obtain ‘knowledge’ on the Rocket League esports scene.
ESI Digest, in partnership with GRID Esports, is part of the ESI Podcast Network, a collection of podcasts encompassing the esports industry. For deep dives into the major areas of esports with subject matter experts, check out ESI Focus. For conversations with key personnel and major stakeholders in esports, ESI Insight is the series for you.