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Gaming

Australian League of Legends team gets bought by sports firm

The Dire Wolves is the first Australian League of Legends team to score a major investment.

Guinevere Capital

Australian e-sports just got more serious.

The Dire Wolves, one of our professional League of Legends (LoL) teams, was last week bought by sports business group Guinevere Capital. Guinevere Capital purchased a controlling stake in the team, marking the first major investment in an Australian LoL team.

"The [Oceanic Pro League] is becoming increasingly popular for investors and sponsors as the league and e-sports continues to grow in Oceania," said Daniel Ringland, head of e-sports Oceania at LoL developer Riot Games. "Investors help establish a support network for the players, which in turn sees the quality of performance increase in the team and the league."

It comes less than a month after the Philadelphia 76ers bought two LoL teams, which itself followed Spanish soccer club Valencia FC starting a team for itself in July. As you can tell, e-sports is growing rapidly, with PwC estimating the industry will make over $460 million in 2016. That's a 43 percent increase from 2015.

Released in 2009, League of Legends is the world's most-played e-sport. It has over 100 million monthly active players, according to Riot Games.