Weibo Completes Acquisition of TS Gaming, Kuaishou Acquires YTG Honor of Kings Team
On Monday Yijia Zhang, chief brand officer of Honor of Kings and president of the KPL Union, announced at Tencent Global Esports Summit that Chinese social media company Weibo has acquired Honor of Kings team TS Gaming and short-form video company Kuaishou has acquired Honor of Kings team YTG.
TS Gaming has rebranded to WB.TS, with a new team logo; while YTG is rebranding to KS.YTG. Both teams will retain their franchising slots in China’s top Honor of Kings competition, King Pro League.
While the financial terms of both deals were not disclosed, YTG was expected to sell its Honor of Kings team for an initial bid price of ￥61M RMB ($8.82 USD).
For TS Gaming and Weibo, this acquisition is the big business news following the TS win at the 2020 King Pro League (KPL) Spring Split, as well as last week’s Honor of Kings World Champion Cup (KCC) at the Beijing Cadillac Center. The organization took home ￥13.4M ($1.93M) lion’s share of a ￥32M ($4.6M) total prize pool.
“Sixteen teams in the KPL was actually not enough considering how significant [a] presence Honor of Kings has in China,” Zhang told The Esports Observer during an interview at the summit.
Earlier this month, Weibo acquired TS Gaming’s QQ Speed division, as well as the franchising spot at Tencent’s top QQ Speed esports league, QQ Speed S League. Zhang is also in charge of the league. Now, Weibo has fully acquired the whole organization.
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