Esports
LEC: Are the Rogues in trouble? Part of the KOI group is struggling financially
The owners of the European powerhouse KOI have to deal with this unpleasant situation. Part of their organisation is falling into a debt spiral.
The owners of the European powerhouse KOI have to deal with this unpleasant situation. Part of their organisation is falling into a debt spiral.
In the past year, a big change has taken place on the European coliseum. By European standards, three large organisations – Infinite Reality, Rogue and KOI – merged. The three organisations came together under the name KOI to strengthen their position in the esports market not only in Spain, where the owners are based, but also in Europe.
One of KOI’s divisions, run by Infinite Reality, is now in big trouble, unable to pay its debts (from employees to players to streamers). In addition, according to sources close to Spanish esports website Esportmaniacos, Infinite is not even paying the LEC license fees properly.
This also puts Ibai – a well-known Spanish streamer and huge esports celebrity who is co-owner of KOI – in an awkward position. He is currently under pressure to pay at least the most necessary debts of three million euros.
The current situation thus puts KOI in huge trouble, which could shake both the Spanish Super League and the LEC itself. Yet the KOI case highlights how easy it is to stumble in top esports. In particular, events in America this year have shown how easy it is to fall into a troubled financial spiral (TSM, CLG).
The EMEA ecosystem has undergone a drastic organisational change this year and it will be interesting to see how it develops next season in particular, as Europe has added Turkey and the Arab League to its ranks. The financial problem of a large European organization is the last thing the system needs right now.
In addition, KOI’s problems have begun to fuel speculation, especially on Reddit, about the entry of French giant Karmine Corp into the LEC. KCorp has been trying to get into the LEC for the past two years, but has always run into an entry price per slot that hovered around forty million euros last year.
Source: Twitter BoDork, Esportmaniacos, Reddit
