North American esports organisation Counter Logic Gaming (CLG) has been officially acquired by NRG Esports, following a report that it had laid off all its staff.
The two companies announced that a new company will be led by NRG Founder and CEO Andy Miller, with NRG becoming the new owner of CLG’s slot in the LCS, the top-flight League of Legends league in North America.
The new ownership structure was confirmed in a statement by the Madison Square Garden Sports Corp., the previous majority owners of Counter Logic Gaming, as well as NRG Esports. As a result, MSG Sports will now own a non-controlling equity in the new, combined company.
This marks the culmination of a series of speculations about the future of CLG. According to a video by Travis Gafford, the company was to lay off all of its staff, including CEO Greg Kim, but keep its LCS team. Unfortunately for the CLG employees, that is exactly what happened in the end.
In a statement by NRG CEO Andy Miller, he noted that the new company wants to keep as much of the current CLG League of Legends team as possible. This includes rosters, coaches, analysts and everyone else included. The brand of the LCS team will be switched to NRG as soon as possible, making it the last nail in the coffin of the famous organisation.
The bittersweet turn of events marks the end of Counter Logic Gaming, one of the most prominent NA esports organisations.
Founded in 2010, the organisation was most known for its League of Legends roster, but also competed in almost all large esports titles, ranging from Smite to Rocket League, Overwatch and CS:GO.