Chinese esports organisation YTG Gaming (YTG) is selling its related rights and interest in its King Pro League (KPL) franchising spot. 

According to the Esports Observer, the sale includes the organisation’s KPL slot, player contracts, and team social media accounts. The sale is taking place on the Shanghai United Assets and Equity Exchange as a 20-day auction, and at the time of writing the bid price had reached ¥61M RMB ($8.6M USD). 

There are 16 teams in the Tencent-hosted KPL, which YTG has been part of since 2017. Teams that took part in the 2020 Spring Season were AG Super Play, QG Happy, GK Gaming, Dynamite Gaming, TS Gaming, Team WE, WTG Gaming, Rogue Warriors, X-Quest, Edward Gaming, eStar Pro, Hero JiuJ, Royal Never Give Up, TOP Esports, Vici Gaming, and LGD Goose. 

YTG has not given a reason for the sale, but it has been speculated that the COVID-19 crisis and resulting economic downturn, along with poor team performance, have led to the decision to sell and exit the league. 

AYO.NEWS says:

With the world facing an unprecedented economic crisis thanks to the COVID-19 pandemic and resulting lockdowns, even the booming esports industry isn’t immune from financial difficulties. With many organisations having stretched themselves to afford pricey franchise slots, from KPL to Call of Duty League, we’ll likely see more organisations decide to sell up and exit as financing gets harder to come by. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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