Riot Games have sold the exclusive League of Legends streaming rights to Major League Baseball Advanced Media's BAMTech. The Wall Street Journal reports the deal is worth $300 million and will run through 2023.

The League of Legends developer announced the collaboration on Friday, calling it a "first-of-its-kind long-term commercialization partnership."

"We will be working closely with BAMTech to grow revenue in our sport through various means, including sponsorship and advertising," Riot said in a post on its website. "Beginning next year, we’ll also be collaborating to push the boundaries of the esports viewing experience, leveraging BAMTech’s best-in-class technology to create additional possibilities and opportunities for fans to access, and connect with, League of Legends."

Reports have been swirling for weeks that the partnership would include the streaming rights for professional League of Legends competition and a standalone app to distribute content. The app will launch in 2017 and is expected to draw revenue from advertising and sponsorships.

BAMTech will also control the distribution of content to other services such as Twitch and YouTube.

League of Legends is by far the most popular game in the esports world with more than 100 million monthly users.

"This is a game changer for our sport. As we’ve said in the past, true economic sustainability is a critical means to ensuring a sport that lasts, and this represents a major step towards that goal," Riot added in its announcement. "As an innovator in digital sponsorship and media sales, BAMTech will help us unlock long-lasting and meaningful value for our digital sport as it matures. In BAMTech, we have found a partner equally committed to building professional League of Legends towards the lasting future we believe in for teams, players and fans. We’re honored by their faith and belief in our sport."

BAMTech is a partnership between MLBAM, The Walt Disney Company and the National Hockey League and currently deals with online streaming for HBO, MLB, NHL and WWE.