The
current esports market has suffered a significant economic decline due
to a combination of less viewership after the pandemic boom, a general
economic downturn, lack of profitability in organisations and VC (Venture
Capital) companies pulling out funds as esports, much like crypto, no
longer seems as a safe or potentially large value investment. In wake of
this, Saudi Arabia has begun to heavily invest into esports, hosting
the Global Esports Games with a multi-million prize pool amongst other
events, buying out ESL, one of the biggest broadcasting companies in
esports and building its own team indirectly – Team Falcons. Team
Falcons have allegedly offered extremely high-value contracts whilst
other organizations have begun significantly downscaling contract offers
to players in the wake of the overall downturn.