To Buy Into This Video Gaming League, It's at Least $10 Million
- Price of a League of Legends team is up tenfold in 18 months
- New ten-team structure designed to create financial stability
Fans cheer on a team during the League of Legends World Championship at the Staples Center in Los Angeles, California, on Oct. 29, 2016.
Photographer: David Williams/BloombergThis article is for subscribers only.
Over the last several years, investors have grown curious about the world of professional video gaming. If this were any other sport, one logical thing to do would be to put money into a team. But in esports, it’s not clear what prospective team owners would be buying.
On Thursday, the company behind the world’s biggest esports game— League of Legends — tried to answer that question. Riot Games Inc. laid out a new framework for its ten-team, North American league and set a $10 million price to buy in.