After finishing in last place in the Bundesliga, Schalke 04 are looking to sell their LEC spot for €30m on their road to financial recovery.
For those of you unfamiliar with Schalke04, they are a prestigious German football club founded in 1904. Their most recent football achievement came in the 2010-2011 season, lifting the DFB-Pokal German Cup and the Super Cup in succession. However, despite winning the league 7 times before, they finished the Bundlesiga season 2020-2021 in 18th place. Considering they are dead last in the league table, they were regulated into the second tier league.
Schalke04 looking to survive bankruptcy
Understandably, this caused a lot of financial issues to the club. The money being invested into their esports department, Schalke 04 Esports, is being pulled back. At this point, the club is scrambling to find every penny they can to save themselves from going bankrupt. That's why one of their most sought after assets to sell is their LEC spot. Schalke 04 has been competing in LoL since 2016, but it might be coming to an end.
During the past few years, they have brought up some significant names in the LEC. This includes the likes of Erberk "Gilius" Demir, Felix "Abbedagge" Braun, Erlend "Nukeduck" Våtevik Holm, and many others. They managed to finish 4th in the LEC 2021 Spring and Spring Playoffs, 6th in the LEC 2020 Summer, and 3rd in the LEC 2019 Summer Playoffs and Regional Finals.
According to reports from reputable German magazine BILD, Schalke 04 are putting up their LEC spot for sale with an asking price of €30m. As some might assume €30m isn't going to save a whole football club. But they will be making considerable profit from reported €8m initial investment back in 2019 as a founding member.
The LCS is already underway with the new content. The LEC kicks off its matches on June 11th with G2 Esports taking on MAD Lions. This leaves Schalke 04 with very little time to get this deal through and registered through Riot Games. It's still unsure if they will find a buyer or will see through the Summer Split. Only time will decide Schalke 04's fate in the league.