July 31, 2017
The Madison Square Garden Company (NYSE: MSG) and Counter Logic Gaming (CLG) have announced that MSG has acquired a controlling interest in CLG, a premier North American esports organization with leading teams and a passionate worldwide fan base. Financial terms were not disclosed. Founded originally in 2010 as a League of Legends team by George Georgallidis, CLG is now one of the largest esports organizations in the world, fielding teams in leading esports titles.
Latham & Watkins represented CLG in the transaction with a team led from the firm’s Century City office by senior associate David Ajalat, with support from Entertainment, Sports & Media partners Christopher Brearton and Adam Sullins and associates Robert Ellison and Austin Williams. The news comes at an opportune time, just days after the deadline for NA LCS franchising applications, signaling significant expansion in the world’s fastest-growing professional sport and Latham’s leadership in the esports industry.