Valve announces million dollar Dota 2 tournament

Valve's wallets must be bursting at the seams because the company has announced a lucrative tournament for its upcoming game Dota 2 using Gamescom 2011 as its stage.

Dubbed "The International," the Dota 2 tournament serves as both the game's public debut as well as a tournament that will see sixteen teams comprised of the "best Dota teams in the world" battle for a million dollar purse.

According to the announcement, Dota 2 is still on pace to arrive for the PC and Mac "later this year."

Sixteen teams will compete in a "group stage, double elimination playoff" throughout the show, which takes place at Gamescom 2011, in Cologne, Germany, from August 17 through August 21. For those not included in the actual playing of the game (or going to Gamescom) the entire tournament will be video broadcast worldwide in English, Chinese, Russian, and German.

Details for "The International" are available on the event's official site.