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ICYMI: Monumental Sports & Entertainment Scored an Investment From the Qatar Investment Authority

Sovereign wealth fund of the Qatar government buys into the parent of aXiomatic Gaming (Team Liquid), Wizards District Gaming, and Caps Gaming.

James FudgebyJames Fudge
September 22, 2023
in Money
Monumental Sports Entertainment Gets Investment from Qatar

Credit: Monumental Sports & Entertainment

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While widely reported in sports media publications when it happened in July, esports fans may have missed the news that the Qatar Investment Authority, the sovereign wealth fund of the Qatar government, bought a minority stake in Monumental Sports & Entertainment. Prior to the announcement, it was reported that the QIA was looking to obtain a “small stake” valued at $4B USD in the company, though those details were not confirmed or disclosed when the deal was announced.

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In case you don’t know, MSE is the co-owner of aXiomatic Gaming which has a controlling interest in Team Liquid. It also owns NBA 2K League teams Wizards District Gaming and Caps Gaming.

MSE, founded by Ted Leonsis, owns NHL team the Washington Capitals, NBA team the Washington Wizards, WNBA team the Washington Mystics, NBA G League team Capital City Go-Go, and Capital One Arena, and manages MedStar Capitals Iceplex, EagleBank Arena, and the MedStar Health Performance Center.

Earlier this week MSE announced the rebranding and launch of Monumental Sports Network for the 2023-2024 sports season, Built upon its acquisition of NBC Sports Washington in 2022, the linear TV network serves sports fans in Washington D.C., Maryland, and Virginia.

 

Tags: aXiomatic GamingCaps GamingGreatest Hits 2023InvestmentsMiddle EastMoneyMonumental Sports & EntertainmentQatarQatar Investment AuthorityTeam LiquidWizards District Gaming
James Fudge

James Fudge

James has been covering the video games industry for nearly 23 years. He currently publishes two esports business newsletters: People on the Move and The Fudge Retort.

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