In September, an investment group led by Washington Wizards, Capitals and Mystics owner (and former AOL exec) Ted Leonsis and Golden State Warriors co-owner (and Mandalay Entertainment CEO) Peter Gruber purchased a controlling interest in Team Liquid, one of the premier esports organizations in North America.
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Gamescom 2026 landed at an odd moment for the industry; money is starting to move again, and the industry's biggest bet in years is about to decide who benefits from it. Behind the demos, the market itself was quietly changing shape.

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