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Counter Logic Gaming’s (CLG’s) Rise from Bankruptcy to Making Millions in League of Legends

If you have been following e-sports Gaming League closely, you will recall that just about six or so months ago Counter Logic Gaming team – better known as CLG – was on the brink of declaring bankruptcy. This industry is not a bed of roses for a lot of teams. It is interesting how a team can lose its sponsorship deals and league standing in a heart-beat.

The upcoming League of Legends Championships to be held in Berlin, Germany could just provide a lasting lifeline for CLG and its fans. The team will get a chance to prove their worth; and should they win the tournament, all the five members of the team will split the lucrative prize of 2.1 million dollars.

CLG owe their appreciation to Draft-Kings, a newcomer into the world of e-sports. Draft-Kings, spent many years building a name in the fantasy sports world through their daily fantasy sports website. It now sponsors CLG and hopes to cash in on the team’s success should they win the Berlin Championships. Just like a smart investor, Draft-Kings will closely follow the Championships tournaments; it has even published its first e-sports content on their website.

Devin Nash, CLG Chief Executive Officer, believes that proper and significant regulations will need to be enforced to curb questionable business practices that continue to rise as the amount of money being invested in the industry increases. He goes ahead to draw examples from teams that previously held the number one spot in North America, but are now struggling to rebuild and re-structure their teams.

The downside of the e-sports Gaming League is that there are no guaranteed returns, in the form of compensations, for the players; plus a lot of the participants just do it as a hobby. Because of this, some desperate players have been, in the past, bribed by fantasy e-sports players and bettors, to throw a game – just so they can continue participating in these events.

The World Championships in Berlin is expected to attract 25 million spectators and viewers – a number much higher than the World Cup and NBA finals.

About Jeff Long

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