This week in esports saw HUYA enter a binding term sheet with MTG, ESL and DreamHack launch CS:GO circuit ESL Pro Tour, Audi sponsor Astralis Group brand Future FC, and Team Flash raise $1.5 million in funding.
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HUYA enters term sheet with MTG, will acquire stake in ESL
Modern Times Group (MTG), the parent company of ESL and DreamHack, entered a binding term sheet with Chinese live streaming platform HUYA.
As things stand, the agreement will see HUYA acquire a minority interest in ESL and form a joint venture with the tournament organiser that focuses on Chinese esports.
Read the full article here.
DreamHack and ESL to launch ESL Pro Tour CS:GO circuit
MTG properties DreamHack and ESL announced the introduction of a new Counter-Strike: Global Offensive (CS:GO) tournament circuit, ESL Pro Tour.
The circuit will link over 20 ESL and DreamHack tournaments & leagues across five continents and feature a total prize pool of more than $5 million (£4.1 million) in 2020.
Read the full article here.
Future FC finds first partner in Audi
German automobile manufacturer Audi announced a partnership with Future FC, the FIFA brand owned by the Astralis Group.
Audi first started working with the group in February 2017 when the automobile giant sponsored the Danish Counter-Strike: Global Offensive team. In January 2019, Audi then joined as the principal partner of Astralis Group’s League of Legends franchise, Origen.
Read the full article here.
Team Flash secures $1.5 million in seed funding
Southeast Asian organisation Team Flash secured $1.5 million (£1.24 million) in a seed round.
The funding round was led by Singapore-based family office Octava, a company that has recently added esports as one of its investment verticals.
Read the full article here.
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