Intel and ESL announce $1 million Intel Grand Slam prize for CS:GO (Updated)

Intel and ESL announced a "landmark deal" during Intel's presentation at E3 today that will see Intel become the Global Technical Partner of ESL, a move they said will "further advance the worldwide growth and development of esports." It also saw the reveal of a new, $1 million Intel Grand Slam prize, which will awarded to the first team that wins four qualifying CS:GO tournaments in a 12-month period. 

"We have been one of the very first companies to believe in esports and have supported it for over 15 years. This year, we have decided to take our commitment to the next level," Intel CEO Steven Fund said in a statement. "We are excited to level-up our partnership with ESL, invest into the development of future esports stars, and create premier events like the Intel Grand Slam." 

The Grand Slam is a $1 million prize awarded on top of the regular tournament prizes to the first team that can win four out of the last ten $200,000 CS:GO events held between Dreamhack and ESL. Qualifying events include the Intel Extreme Masters, ESL One, ESL Pro League and DreamHack Masters series. 

As an added bonus, any team that's able to keep a potential Grand Slam winner—that is, a team with three wins under its belt—from claiming the fourth and final victory will earn a bonus $100,000 for doing so. Once the prize has been awarded, everything will reset and the race to four will begin again. Qualifying events include the Intel Extreme Masters, ESL One, ESL Pro League and DreamHack Masters series.

We'll see more from Intel during the PC Gaming Show.  You can watch the show live on Twitch, and catch up on all the news from this year's show right here.

Update: The post originally indicated that G2 Esports had claimed the first Intel Grand Slam prize by winning the ESL Pro League Season Finals. Intel has since clarified that the VR Challenge League won't begin until ESL One Cologne in July.