Chris Yunker / Flickr
Voyager

Tencent (TCEHY) and its subsidiary Riot Games, the co-managers of the popular League of Legends franchise, have reportedly launched a new esports company.

According to recent reports by VP Esports and Chinese media outlet 36KR, the new company, called Tengjing Sports, will supervise operations related to League of Legends tournaments and other related products.

With the launch of Tengjing Sports, the League of Legends Pro League (LPL) will now operate as a completely independent entity and will no longer function as part of a franchise deal with the companies. The joint companies have a goal to push the LPL to 1 billion RMB in revenue and to achieve 4 billion hours watched, making it one of the most valuable sports in China.

To achieve these goals, Tengjing Sports plans to improve the LPL rules and regulations, optimize the league’s business model, and invest in the professional talent system to develop better pipelines for becoming professional.

This news comes several days after Riot Games closed a major partnership with Alienware, a gaming hardware subsidiary of Dell, that will bring Alienware computers and monitors to LoL esports events.

The 2019 competitive League of Legends season is set to kick-off across the globe in January, with the North America series (LCS) set to launch on January 26.

Tencent was one of Riot Games earliest investors as well as the distributor of League of Legends in China. The company bought the remaining shares of Riot in 2015.

🚀  Facebook (FB) Announces New Calibra Subsidiary and Libra Cryptocurrency
More: Riot Games and Tencent Establish a Joint esports Company
Similar: Riot Games Partners With Alienware for League of Legends Esports Events
Photo: Chris Yunker / Flickr
Voyager

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.