Jake Tucker . Business . Monday 31st July 2017 . 15:50
Counter Logic Gaming has been sold to the Madison Square Garden Company, who have acquired a controlling stake in the company.
Based in North America, CLG was founded in 2010 and has recently been in-form, notching up a series of impressive placements in CS:GO. They also have teams in League of Legends, H1Z1, Overwatch and several other rosters.
The breadth of the organisation is probably the reason for the acquisition, which gives MSGC huge reach in the esports world. This isn’t their first toe in the competitive gaming pool though, as the Manhattan venue has featured sold out crowds for esports events there in the past. However, as esports grows, MSG have clearly seen the worth in having a home team advantage.
CLG will continue to run the day-to-day business of esports and owner George ‘HotshotGG’ Georgallidis will be staying on to manage the teams.
What this means for Madison Square Gardens holding League of Legends events, as it did with the 2015 NA League of Legends Championship Series Summer Finals, remains to be seen. CLG’s League of Legends team is dominant in the area, and won the tournament held at MSG in fact, but it’s unknown if that could be considered a conflict of interests.
“In 2015, Madison Square Garden hosted the sold-out North American League of Legends Championship Series Summer Finals – a first for The World’s Most Famous Arena, and a sign that esports was ready to command sports’ biggest stage,” said David O’Connor, President and CEO of The Madison Square Garden Company in a statement.
“Since then, as we have been actively exploring opportunities to enhance MSG’s portfolio of live experiences, we have been keenly interested in esports as a natural extension of our core business. The sport now stands on the verge of enormous change, which we believe has the potential to generate significant growth. We are thrilled to be taking this next step with CLG – who won their first North American League of Legends Championship Series on that historic night at The Garden in 2015 – and we look forward to collaborating with these influential trailblazers to build their brand in New York.”