The Championship Gaming Series announced today it's calling it quits after realizing that "profitability was too far in the future." The organization has a farewell letter on its site stating the concept was "an idea whose time came too early." Clearly, gamers would rather play than watch others do it on TV.

The big "game over" for the CGS follows the death of the Cyberathlete Professional League earlier this year. Guess that leaves Major League Gaming as the last (relevant) corporate-sponsored group standing?

This article was originally published on Joystiq.

Gears of War 2's ranking system explained