Schalke 04 Esports Confirms it is in Talks to Sell LEC Slot – The Esports Observer
The Esports Observer has learned that German Bundesliga soccer club FC Schalke 04 is in active talks to sell its League of Legends European Championship (LEC) franchise slot.
Schalke 04 Esports Managing Director Tim Reichert confirmed with TEO on Sunday morning that his organization is in discussions with an undisclosed party or parties but, “there is no final decision yet.” There is no certainty that a deal will even happen, but Reichert went on to say that he thinks the organization will have an update in “10 – 14 days.”
FC Schalke 04 Media Relations Manager Sascha Marx offered the following statement to TEO on Sunday: “We have always said, that selling parts of our esports business would be a way to generate income. We will inform the public when such a sale has taken place. “
The latest buzz around S04 Esports selling its LEC slot comes from a report in German magazine BILD and BILD reporter Max Backhaus, who claim that Schalke is aiming to sell the slot “to an investor” for $36.5M USD (€30M).
It is unclear what will happen to the S04 Esports League of Legends roster (whether it would be carried over to the new buyer) should the LEC slot be sold and a sale to another investor or organization would still require approval from Riot Games. Also, the new organization will probably not be able to play in the LEC during this season, or until 2022.
Rumors began surfacing in February of this year that the soccer club might be forced to sell its LEC slot, as it faced hundreds of millions of euros worth of debt and executive resignations, much of it related to the COVID-19 pandemic. Later the club spoke about the possibility of selling the slot publicly, but at the time it didn’t share any details on its plans.
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