FACEIT, in partnership with Twitch, has announced the launch of the Esports Championship Series, a new league which will initially feature only Counter-Strike: Global Offensive and begins today at 12:00 p.m.

FACEIT's announcement explained that the league will feature 10 North American and 10 European Teams and $3.5 million in prizes and team financial support. Additionally, the league will offer co-ownership to teams.

The release discussed the importance of a modern and supportive league structure to the success of esports, and claimed that the new league has already determined “a strict code of conduct for player treatment and payments, making sure everyone has the chance to benefit from the League’s success and the continued growth of esports.”

A governing committee that will include team and player representation will discuss matters of “regulatory framework, integrity, players’ welfare, holidays, and best practices,” the announcement explained.

“Players and teams are the heart of the esports community and deserve the opportunity to reap the rewards of their hard work and dedication to grow esports into a mainstream phenomenon,” said Michele Attisani, co-founder of FACEIT. “We make the community our first priority and as such, we’re excited to support the first esports league that positions teams as co-owners.”

According to HLTV.org, the participating round robin teams are as follows:

North America Europe Winterfox AGG Echo Fox HellRaisers OBEY SK Gaming KKona Gambit

The HLTV report also claims that mousesports, G2 Esports, Selfless and Splyce have received invited to the semifinals.

A development league is also slated for season two, with more information set to be announced “in the coming weeks.”

Josh “Gauntlet” Bury is a toxic avenger. You can find him on Twitter.