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German-based eSports.com AG has filed for insolvency. The responsible district court in Munich mandated a provisional receivership to secure the debtor’s assets until a decision regarding the insolvency claim has been made. The company was founded in 2017 to produce esports-related content and launch a cryptocurrency effort.
Last year, eSports.com struck a number of partnerships within esports. In March 2018, the company agreed to a sponsorship deal with Counter-Strike: Global Offensive team Astralis, with the agreement valued at about $2M over three years. Then in December, eSports.com announced a joint venture with 7Sports, the sports business unit of German media company ProSiebenSat.1, to co-manage the website and feature ProSiebenSat.1’s content.
ProSiebenSat.1 representative states, “The insolvency concerns eSports.com AG. ProSiebenSat.1 has no direct business relationship with eSports.com AG. The joint venture operated jointly by eSports.com AG and ProSiebenSat.1 Sports GmbH (eSports.com GSA GmbH) is not directly affected by the insolvency. Our goal is to continue operating the eSports.com platform in German-speaking countries as before.”
“As we are not part of the insolvency proceedings, ProSiebenSat.1 cannot make any statements on this matter. The insolvency of eSports.com AG has no impact on the eSports strategy and activities of the ProSiebenSat.1 Group,” ProSiebenSat.1 representative added.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: eSports.com AG files for insolvency
