Schalke 04 considering selling LEC slot for €20m
League of Legends has become a household name for gamers and esports fans everywhere. German football club, Schalke 04, have been in the league for almost 5 years, but are considering selling their place in the LEC for €20m ($24.3m).
When it comes to esports, League of Legends is arguably the biggest, with major tournaments in countries all over the world, as well as prize pools that boggle the mind.
The European leg of competitive LoL, the LEC, is one of the game’s most dominant Leagues. With the Spring Split well underway, teams like G2 Esports and Rogue sit at the top of the pack, but others aren’t doing so well.
One of these is Schalke 04 team, who have attained a meagre sixth place over the past few weeks. Now, the team has announced that selling its LEC spot could be in consideration as the larger football club is looking for a way to stay afloat during the global health crisis.
Schalke 04 considering selling LEC slot
As first reported by Paul Arrivé of French news outlet L’Equipe, the club are considering selling their LEC slot for a supposed €20 million.
This has likely been prompted by a poor performance by the soccer team in the German Bundesliga, who currently are in last place with only nine points from 22 games. Coupled with financial difficulties associated with the current global crisis and the departure of ex-president Clemens Tönnes after a wave of controversy, it seems like Schalke are in a pretty bad spot.
During a Q&A on Twitch, Schalke confirmed “there is an opportunity that we have to look into selling the (LEC) slot because the slot has big value.” The club later revealed that a decision might come in late May or June.
Selling on their LEC slot will net them over 100% profit. Dropping the team would save the organization the costs involved in running a pro esports team, as well as the staggering €8 ($9) million LEC entry fees.
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Considering that Schalke are a soccer team at their core, this money could easily flow back into the sports side of the business to attempt to rebuild their somewhat tarnished reputation.
If the sale takes place, the 2021 Schalke Miracle Run to Worlds might be over before it begins. Only time will tell whether or not we see the Royal Blue squad in the LEC again, or whether or not it’ll be another LoL team battling for center stage.