North Esports has announced its shutting down operations due to financial struggles amid the COVID-19 pandemic.
The Denmark-based organisation made the announcement in a press release (translated from Danish to English online), explaining how investors Nordisk Film and Parken Sport & Entertainment (PS&E) decided to pull out of esports to focus on their “core businesses”.
This is due to the COVID-19 pandemic, which has drastically affected the esports industry over the past year.
Lars Bo Jeppesen, chairman of North Esports and director of PS&E, stated they tried to find new investors to keep the organisation afloat, but they didn’t find “the right match”.
Today is a sad day. North Esports is no more.— North (@TheNorthIsHere) February 5, 2021
Ty for all ❤
"There is still potential in esports and gaming, but the time horizon is long and uncertain, and COVID-19 has moved the time horizon further years into the future according to our assessment, as both esports and the sports industry as a whole have been hit hard financially,” Lars Bo Jeppesen said.
North’s FIFA roster will now be taken over by FC Copenhagen, where they’ll continue to take part in the eSuperliga. The future is uncertain however for their other rosters across CS:GO and Apex Legends.