06 Apr, 2023, 17:00 ET
NEW YORK, April 6, 2023 /PRNewswire/ -- Madison Square Garden Sports Corp. (NYSE: MSGS) ("MSG Sports") and NRG, a professional gaming and entertainment company, today announced the combination of Counter Logic Gaming ("CLG") with NRG. As a result of the transaction, MSG Sports, which previously owned a controlling interest in CLG, now owns a noncontrolling equity interest in the larger, combined NRG/CLG company.
The newly combined company will be led by NRG Founder and CEO, Andy Miller, and will be home to leading North American esports teams in premier leagues including, League of Legends, Valorant, Overwatch, Apex Legends, and Rocket League. These teams will also benefit from NRG's digital media brand, Full Squad Gaming, which has become an instant powerhouse amassing millions of followers on social media platforms.
MSG Sports President and COO, David Hopkinson, said, "NRG is a leading professional gaming and entertainment company with championship teams and innovative content. This transaction has brought together premier esports teams with a track record of success and allows MSG Sports to remain a significant investor in the esports industry."
NRG Founder and CEO, Andy Miller, said, "This transaction expands the NRG family and brings together two storied brands that are passionate about gaming. We will now have a larger esports presence with championship caliber teams competing at the highest level of global esports competition."
About Madison Square Garden Sports Corp.
Madison Square Garden Sports Corp. (MSG Sports) is a leading professional sports company, with a collection of assets that includes: the New York Knicks (NBA) and the New York Rangers (NHL); two development league teams – the Westchester Knicks (NBAGL) and the Hartford Wolf Pack (AHL); and an esports team – Knicks Gaming, an NBA 2K League franchise. MSG Sports also operates a professional sports team performance center – the MSG Training Center in Greenburgh, NY. More information is available at www.msgsports.com.
NRG is a professional gaming and entertainment company headquartered in Los Angeles, California. Founded in 2016, NRG has embodied competitive esports excellence and the best of gaming culture over the last half-decade. With its championship teams and innovative gaming lifestyle content, NRG amassed over 2 billion content views in 2022. NRG boasts a World Championship Rocket League team, an Apex Legends squad with numerous national and international titles under its belt, and a top ranked fan favorite Valorant squad. Additionally, NRG is home to the San Francisco Shock, the org's Overwatch League team, who is the winningest and most popular Overwatch team of all time, having won 2019, 2020 back-to-back Grand Finals. NRG's content channels span YouTube, TikTok, Instagram, Twitter, Facebook and multiple Snapchat Discover shows. NRG's social gaming brand, Full Squad Gaming, has become an instant powerhouse amassing millions of followers on TikTok and YouTube. NRG content channels currently reach over 70M uniques a month and over 5 million views a day!
Ari Danes, CFA
Investor Relations and Financial Communications
SOURCE Madison Square Garden Sports Corp.
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