French giant Karmine Corp bought Astralis' LEC slot for US$27 million and will debut in the European League of Legends championship for the Winter Season. Payment will be made in tranches until 2025. KC is two-time champion of the French League and has won four EMEA Masters, a tournament that involves 13 European regional leagues. With the sale, Astralis' players are now free agent.
The blue wall will now be in the main League of Legends championship in Europe, Africa and the Americas. Negotiations between Astralis and Karmine Corp had LEC's support, which evaluates the teams’ ownership group, brand and fandom, business history and objectives, as well as their approach to player development and performance when it comes to releasing or preventing the sale.
With the acquisition, Karmine Corp will continue to play in the French League, but with an academy team. The organization was founded in 2020 and has been gaining more and more fans. Every year, KC holds a showmatch event in different games that fills the chosen arena. In the third edition of KCX3, around 30 thousand people gathered at La Défense Arena, in Paris.
Astralis assessed that with the value of the slot, taking the negotiations forward was a great opportunity for the Danish organization, which joined the LEC in 2019.
When we experience a significant increase in the value of an asset, as is the case here, as a company we have an obligation to assess the opportunities a sale will give us against the value of retaining the rights. We have assessed that the price and conditions are so promising that we choose to sell now - said Anders Hørsholt, CEO of Astralis.
With that, Karmine Corp joins G2, SK, Fnatic, KOI, MAD Lions, Team BDS, Vitality, Heretics and Excel.
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