RFRSH Entertainment has agreed to sell its competitive branch, including Astralis and Origen, for an undisclosed sum.
According to Danish website TV 2 SPORT, the deal is worth between $11.1 million and 16.6 million. It is expected to be completed next week.
We're proud of the sports performance model and infrastructure we brought to Astralis (and Origen). Now it is time for the teams to stand on their own legs.— Nikolaj Nyholm (@nikolaj) July 12, 2019
Astralis is profitable and Origen among the three best League teams in the West, easily top brands for the next 50+ years https://t.co/BYlP0LyvDP
Both the Astralis Counter-Strike: Global Offensive team and the Origen League of Legends team will become owned by Astralis Group ApS, a newly-formed organization that includes Danish sports and business people among its owners.
Nikolaj Nyholm will resign as RFRSH Entertainment CEO to become CEO of the Astralis Group. RFRSH co-founder Jakob Lund Kristenson will also join the Astralis Group, as will current RFRSH director of sports Kasper Hvidt and vice president of communications and brand Steen Laursen.
Without Astralis, RFRSH Entertainment plans to focus on the BLAST Pro Series tournaments and other BLAST properties. A RFRSH Entertainment email leaked July 14 by Dexerto also indicated the organization might start its own CS league.
Astralis will next compete at the StarLadder Major, where it will look to salvage a year in which it's won only two LAN tournaments. Origen currently stands at fifth in the LEC summer split and is set to play Misfits on Friday.
Copyright: ESL | Stephanie Lieske