Team Heretics acquire Misfits’ LEC spot
Spanish organization Team Heretics have confirmed that they have secured a spot in the LEC – Europe’s premier League of Legends competition.
As first reported by Blix.gg, Team Heretics have reached an agreement with Misfits for the acquisition of the North American organization’s spot in the LEC. The deal will come into effect in 2023.
Details about the agreement were not disclosed by Heretics, though reports suggest that the Spanish organization spent between 34 and 36 million dollars to purchase 80 percent of Misfits’ spot. In a statement, Misfits confirmed that they will remain “a minority partner in the team” and that their academy team, Misfits Premier, will exit the LFL at the end of the 2022 season.
“It’s bittersweet to know that our mission to diversify means that we cannot be in all places at once and we’re sad to say so long to the loving camaraderie and competitiveness of the LEC,” said Ben Spoont, co-founder and CEO of Misfits Gaming Group.
“We did not make this decision lightly and ran an exhaustive process vetting numerous interested offer parties and came to the decision that Team Heretics was the right selection to continue on as responsible stewards of the League.”
Who are Team Heretics?
Founded in 2016, Team Heretics is a Spanish organization with a rich history in a number of esports titles, including Call of Duty, Valorant, CS:GO and League of Legends.
Team Heretics also boast a vast stable of content creators, including David ‘Grefg’ Cánovas Martínez, who has over 10 million followers on Twitch. Grefg, who is also a co-owner in the organization, said that this is “the most important day” in Heretics’ history.
After having competed in second-division Spanish League tournaments since 2017, the team finally entered the Superliga at the start of 2022, where they finished in eighth place in the Spring split, failing to qualify for playoffs. They currently sit tied for first place with Giants in the Summer split, and qualified for EU Masters on July 21.
Heretics CEO Antonio Catena, who described this as a “historical moment” for esports, said that the deal was backed by an investment group with ties to football clubs as well as NBA and MLB franchises.