Team Finest acquires Monaco Esports for $10M

Israeli esports organization Team Finest has announced the acquisition of Monaco Esports for $10 million. This deal is part of a global strategy for international expansion developed by Israel Finest, founded by Ruvik Milkis in 2019. Club chairman Mark Klein said the global plans to enter the Monaco market are just the first step in the organisation's long-term vision.

Klein joined Team Finest in late 2020 when media company RadarZero, of which he is CEO, took a majority stake in the organization. Over the past decade, the investment group has poured close to half a billion dollars into several gaming projects, including GameSquare, Enthusiast Gaming, and FaZe Clan.

Klein explained that RadarZero was created with the goal of making more money from the group's gaming investments through solutions such as advertising and marketing technology. When the coronavirus pandemic hit in 2020, Klein was looking to expand the company's portfolio in Israel, where he has lived for 20 years, and help develop a project close to him.

With new financial opportunities, Team Finest will soon start exploring other markets to expand into the esports space. The organization has previously partnered with a number of large companies, including food giants Pizza Hut and blockchain firm Tezos.

By acquiring Monaco Esports, Team Finest is providing a fresh start, but more importantly, the organization is also getting carte blanche to operate in the principality thanks to Ducrouet, son of Princess Stephanie of Monaco and Daniel Ducrouet.