Madison Square Garden, Owner of Knicks and Rangers, Buys Counter Logic Gaming

It's been a good week for George "HotshotGG" Georgallidis, founder of Counter Logic Gaming (CLG) as Madison Square Garden purchased a controlling stake in his eSports team. The Madison Square Garden Company will be adding Counter Logic Gaming to its already impressive portfolio of professional sports teams including the New York Knicks (NBA), New York Rangers (NHL), and New York Liberty (WNBA). A price for the transaction has not been disclosed, but given that the Madison Square Garden Company is publicly traded, additional details may be revealed in quarterly earnings reports. CLG's George Georgallidis will remain with the team and "continue to run the day-to-day business of esports" for the team's new owner.

CLG was founded back in 2010 as a Riot Games and Activision Blizzard starting to better organize their leagues.

Despite no disclosure of price, my guess is that CLG was bought for over $50M. I'll update this article and post a new one if Madison Square Garden discloses a price in the future.