legal
Riley Principal 150 Merger Corp. (BRPM) has submitted an amended filing to the SEC that includes details on its proposed business combination with FaZe Clan. The SPAC merger — initially announced in October 2021 — would result in FaZe becoming a publicly-traded company on the NASDAQ stock exchange. What’s in the filing?In the amended S-4/A filing, BRPM indicated that FaZe fell short of EBITDA (Earnings before interest, taxes, depreciation, and amortisation) projections by $9.74m (~£7.75m). BRPM pointed to higher than expected costs for original programming, additional executive hires and chang...
Esports Insider
Daniel Schnapp and Samuel Cohen, from law firm Sheppard Mullin‘s Esports & Games Industry Team, write for Esports Insider to discuss how intellectual property rights work in esports. Global esports revenue surpassed $1 billion and the worldwide esports live streaming audience grew 12.7% year on year to 747 million people in 2021, according to Newzoo. The esports market has seen consistent engagement despite in-person events not fully returning across the US as investments, strategic partnerships, and sponsorships proliferate at exponential rates. Underpinning esports and gaming stakeholders’ c...
Esports Insider
Esports entertainment holding company Subnation Media and the Greater Raleigh Convention and Visitors Bureau have announced that Roy Cooper, the Governor of North Carolina, has signed a new State Legislature budget. The budget will include a $5m (~£3.7m) Esports Industry Grant Fund, which will be used to encourage esports events and productions in the state. RELATED: ESL Gaming partners with 343 Industries for Halo esports programme According to the release, the grant will help impact the region and state’s economic impact, whilst also being a ‘blueprint for other government groups to model fr...
Esports Insider
IAB UK, the UK’s industry body for digital advertising, and video game advertising and monetisation platform Bidstack have announced the creation of the Gaming & Esports Advertising Framework. The framework will provide a standardised set of defined terms relating to gaming and advertising, aimed at improving communications and interactions across the advertising supply chain in the fast-growing industry. RELATED: ESL Gaming partners with Gameloft for Brands to improve mobile advertising Per an official IAB UK blog post, the framework is designed for use by anyone buying, selling, or intereste...
Esports Insider
The esports industry would not be where it is today without support from sponsorships and partnerships with brands, both inside and outside of the space. With sponsorship deals regularly making headlines, just what goes into securing these deals and ensuring all parties are legally protected? On this week’s episode, Michelle Tierney, Director of Commercial Partnerships of Guild Esports and Brian Anderson, Partner at Sheppard Mullin, discuss the legal intricacies behind esports sponsorships, detailing comparisons from their experiences in traditional sports and other media industries. This is t...
Esports Insider
Esports data and statistics company Abios has announced the launch of a solution to help bookmakers and esports companies ensure compliance is maintained with player age legislations. According to the release, the customisable solution provides updated information on expected rosters, player ages, birthdays and the share of underaged players in teams participating in major tournaments of the most popular esports titles. RELATED: Bayes Esports: The legal shifts in 2021 tournaments’ terms and conditions Oskar Fröberg, CEO of Abios, commented: “Over the past 18 months, we have offered player age ...
Esports Insider
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