Team SoloMid, Cloud9, Team Liquid, Counter Logic Gaming, Immortals, NRG Esports, and CompLexity Gaming have teamed up to create the Professional Esports Association.

Focusing on North American Counter Strike the association will feature twice weekly matches, streamed during the 10 week season, with a prize pool of at least $1,000,000 during its first year and $500,000 for season one.

Both players and owners will get a 50% share of profits and casters will also get 50%, players will also receive benefits such as investment planning and retirement services.

“The PEA represents something new in eSports – an association of top teams running their own league and sharing the profits and the decision-making with the players,” said Jason Katz, PEA Commissioner. “This has been the architecture of traditional major sports leagues for many decades, but it is a new evolution for eSports. This will allow us to finally build a stable, healthy, long-term environment for the players, the community, the media and the sponsors.”

“This marks the end of the ‘Wild West’ days of eSports,” said Jack Etienne, Cloud9 CEO. “The community and players want stability and dependability. Leagues come and go, teams join them and depart, but with the PEA, the teams are making a long-term commitment to be here, playing for the fans, for the indefinite future.”

“It’s time for leagues to share the rewards and strategic decisions with the players,” said Andy Dinh, CEO of TSM, “and the best way for team organizations to do that is for us to do it ourselves. The PEA is a vehicle for us to work shoulder-to-shoulder with the players, doing what we all love.”