Parken Sport & Entertainment and Nordisk Film announced today that Danish organization North Esports must close and release its teams due to difficulties from the global pandemic.
North Esports Closes
The organization struggled ever since its arrival in the esports scene. But with the global pandemic lasting just under a year, even North Esports needed to close. Its owners decided that sustainable business cannot come from North in the foreseeable future. Parken Sports & Entertainment owns North and Danish football club F.C. Copenhagen, a very notable sports team. As a strong player in sports, Parken knows what it’s doing when making this decision.
“We have searched the market to get one or more co-investors on board the project, but have unfortunately not found the right match,” Lars Bo Jeppesen, chairman of North and director of Parken Sport & Entertainment. “It will require significant continued investment to create a sustainable business in the future and therefore we believe that the sole responsibility for our overall business is to focus all our focus on our core business in FC Copenhagen, Parken and Lalandia, just as Nordisk Film will focus on its large core and growth businesses. ”
Established in 2017 with a CS:GO roster, North came far as an esports organization. Although they never came as far as Danish counterpart Astralis, they certainly got their name across. Currently, North fielded rosters and teams in CS:GO, Apex Legends, and FIFA. The former two teams will see their players let go and looking for signings elsewhere. F.C. Copenhagen will take control of the team’s FIFA players.
Because of COVID-19’s impacts on sports and esports, many organizations are struggling. While some like David Beckham’s Guild Esports sought to take advantage of the growing market, many couldn’t. North is one of many esports organizations that struggled to continue operations.
Even after letting go of CS:GO esports player Mathias “MSL” Lauridsen at the end of 2020, North couldn’t see success. The company struggled with managing its players even before the pandemic. It’s likely this is only the first of many notable brands to close down.
Written by Justin Amin
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