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German football club FC Schalke has confirmed their exit from the League of Legends Esports division and have got themselves a €30m price tag on their LEC franchise slot ahead of the 2022 season.
Football clubs all across the world, especially in Europe, have been facing loads of financial troubles due to the pandemic situation. Also with Schalke being relegated to the Bundesliga second division after 30 years of top-tier football, their revenue has been hit drastically.
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The German side also has to deal with the resignation of their former chairman of the supervisory board, Clemens Tönnies, who was involved in a COVID-related health scandal. All these factors have collectively added to Schalke’s woes, leading to a stacked-up financial debt of a whopping €200 million.
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It is also no secret that most global Esports teams lack proper financial support systems because of the sport's low popularity compared to other sports. Schalke 04's Esports division has been heavily dependent on revenue generated by their football team.
So with the ever-increasing financial troubles, the club has been looking to raise funds from anywhere and everywhere, and their League of Legends division is set to be its first unfortunate victim.
Schalke 04 to sell their League of Legends European Championship spot to a European Esports giant
Schalke went on to become one of LEC's most consistent performers since they came to Esports in 2019. The German franchise finished third in the 2019 LEC Summer Playoffs and fourth in the LEC 2021 Spring.
Schalke had just started growing their Esports fanbase, but German magazine BILD confirmed that LEC 2021 Summer is their last official League of Legends tournament as they are set to sell their LEC spot for €30m.
The exit plan for Schalke 04 has now been confirmed by Sky Sports Germany’s journalist Dirk Schlarmann. According to his reports, Schalke's manager Alexander Jobst has announced his decision in the club’s end-of-season general meeting.
Though it is still not known which organization will be taking over Schalke's League of Legends LEC spot, speculation is bringing up names like Karmine Corp, Giants Gaming, Team BDS and others. As per reports of BILD, Schalke 04 will be making a considerable profit on its LEC slot, that is, up to €22m on its original €8m investment in 2019.
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