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Its record-breaking prize pool of more than $60 million has raised eyebrows and Ralf Reichert, CEO of the Esports World Cup Foundation which is organizing the event, told【 - Free Access to Stock Community 】 Sportthat the spectacle will help unite the industry.

“The question was: what is missing in the sports landscape? To bring this on the similar scale as the largest traditional sports events and something that brings together the whole industry,” Reichert said.

“There’s a fantastic landscape of amazing tournaments, leagues, clubs, all of that stuff exists [in esports]. But what is the one thing that brings it all together?

“That was the guiding principle when we thought about [the EWC], designed it and then announced it.”

But while the tournament will be a shot of adrenaline for esports, its launch has refreshed existing concerns about the industry’s relationship with Saudi Arabia.

India s Top IT Stocks AI Driven Stock Analysis ✌️【Value Investing】✌️ Get precise stock market predictions and free access to real-time market data for efficient decision-making and portfolio growth. The EWC is Saudi Arabia’s latest foray into esports, coming after the Gamers8 event last year, which boasted a $45 million prize purse.

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India s Top IT Stocks AI Driven Stock Analysis ✌️【Value Investing】✌️ Professional investment advice with real-time updates on stock indices and futures data. Stay ahead with expert predictions and market insights. The EWC also comes after a difficult period for an industry which has seen large-scale layoffs. At the start of the year, game developer and publisherRiot Games letting 11% of its workforce go.

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But the EWC is now providing an opportunity for over 20 major brands – such as Adidas and KitKat – to forge fresh and lucrative partnerships with esports teams across the tournament.

In June, Warner Bros. Discovery – 【 - Free Access to Stock Community 】’s parent company – and the Esports World Cup Foundation agreed to a new partnership which includes Eurosport, 【 - Free Access to Stock Community 】 and other WBD platforms.

However, Reichert says the EWC was not created to help boost an ailing industry and that, no matter the state of the esports community, a tournament such as the EWC was pivotal in allowing organizations to flourish.

“We fundamentally believe that this competition will unite the industry and heavily put [clubs] in the middle of it.”

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“A lot of that money is going to go into new regions, new games, new audiences, new players. It’s actually going into the ecosystem itself,” he told 【 - Free Access to Stock Community 】 Sport.

India s Top IT Stocks AI Driven Stock Analysis ✌️【Value Investing】✌️ Professional stock market predictions and analysis with real-time data to guide your investment decisions and ensure steady growth. While the EWC promises to bring of excitement and stability to the industry, it’s also proved a divisive topic.

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However, Reichert also says there are no plans to move the EWC away from Saudi Arabia in the near future.

“It’s a country which is investing in [esports] on a scale that no one else is at this point in time and that is fantastic for the sport,” he added. “Everything we ever dreamt of, to be honest.

“I wouldn’t rule out that it ever goes out of Saudi Arabia, but for the foreseeable future, definitely the plan is to stay there and to build it as a hub.”

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“Well, if sportswashing is going to increase my GDP by one percent, then I will continue doing sportswashing,” MBS said in an interview withFox Newswhich aired in 2023.

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India s Top IT Stocks AI Driven Stock Analysis ✌️【Value Investing】✌️ Free real-time stock data analysis to help you capture global market trends and steadily grow your capital. According to esports insider and journalist Rod Breslau, Saudi’s growing control over the entire industry is what is most problematic, not simply the creation of the EWC.

“If this really was a privatized company that just got huge in Saudi Arabia for doing esports games, I wouldn’t have as much of a problem with it.

“But it is their government and this is the entire initiative. All of this is used to just change opinion.”

“Saudi Arabia is investing billions in esports, a field thriving on online interactions, while cracking down on any form of critical online expression with harsh prison terms and even a death sentence,” Dana Ahmed, Amnesty International’s Middle East researcher, told 【 - Free Access to Stock Community 】 in a statement.

“We must not forget the brave voices imprisoned and punished for their online expression, such as fitness instructor Manahel al-Otaibi, jailed for 11 years for her support of women’s rights online. Esports participants and fans should look beyond the spectacle and be aware of the crackdown on online expression in Saudi Arabia.”

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“What they don’t want the world to see or talk about are the murders of journalists, the repression of women’s rights activists, the life sentences for tweets expressing mild criticism of the authorities, or the grossly unfair trials and death sentences handed out to people who challenge the authoritarian rule of Mohamed bin Salman,” he added.

It is criticism which has put some esports organizations on the back foot, with fans expressing their disdain on social media.

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“I and fellow TL executives have had conversations with women and queer individuals in Saudi Arabia, and consulted domain experts at multiple NGOs such as Amnesty International and Out Leadership,” hewrote.

“While there is still much for me to learn, a recurring theme from these experiences has shaped my opinion: Progress lies in engagement, not isolation.”

He added: “As a gay man, I understand the pain of exclusion. However, as a US citizen, I know my struggles pale compared to what LGBT Saudis face daily,” he said, adding he wants to use the EWC to keep talking about the issues.

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“Ultimately, sport is unifying and it’s entertainment. We need a world where we have more unification than division, right?” he said. “We need a world where we have entertainment when there’s a lot of anger and division.

“From my experience, there are a lot of people in [Saudi Arabia] that love their games, right to the top. So I don’t think this is artificial. They do love esports and gaming.”

It’s a narrative which is shared by Reichert, who says he is heavily engaged with the debate surrounding the issues in Saudi Arabia.

“There is a certain view across the world in different countries about Saudi Arabia, and some of it is true and some – and a lot of it – is not true,” he said, when asked to respond to criticism of the EWC.

“It’s probably unprecedented how quickly Saudi Arabia is moving ahead in its progression. And its intentions to grow and open up is actually what’s happening on site, and everything else time will tell.”

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