UK retailer Game has sold its Belong esports network to U.S. startup Vindex for a reported $50 million
That fee was reported by the Financial Times, although the deal itself has been confirmed by Vindex, which explained its plans to invest $300 million into the Belong brand over the next five years.
The deal will see Game continue to own and operate all of the Belong gaming arenas in the UK and Spain thanks to exclusive license agreement with Vindex.
Vindex, meanwhile, will attempt to expand the brand in the United States by opening esports gaming centers and arenas across the country.
“The deal marks the next phase in Vindex’s vision to support the growth of the global esports industry and to bring amateur esports to hometowns across the country, and around the world,” explained Vindex.
“Belong Gaming will partner with Esports Engine, a Vindex company, to provide turnkey amateur esports league design, operations, and tournaments through Vindex’s powerful software platform that will power Belong Arenas and connect all of its global members.
“Vindex plans to invest $300 million over the next five years to open more than 500 Belong locations in the US and an additional 1,000 locations globally through licensed operating partners including GAME.”
Game chief exec Martyn Gibbs will join the Vindex management team as part of the deal, and will help oversee the immediate U.S. rollout and global expansion strategy.