Team Heretics purchases Misfits Gaming Group’s slot in LEC
Just this week, Misfits Gaming Group announced that Spanish esports organization Team Heretics had purchased its slot in the League of Legends European Championship or LEC. The gaming group said it would remain “a minority partner in the team” as the move will be in effect starting next year.
Misfits Gaming Group also confirmed that its esports team, Misfits Gaming, will no longer be competing in LEC starting in 2023. Its academy team, Misfits Premier, will also pull out from the French League at the conclusion of the 2022 season.
The United States-based gaming organization explained that the decision was part of a much larger expansion strategy to invest in both creators and esports.
No further details were released about the sale. However, multiple reports hold that Team Heretics spent between $34 to $36 million to purchase 80 percent of Misfits Gaming’s slot in LEC.
Misfits sell LEC slot, pivoting to focus on creative talent, esports
Misfits Gaming Group co-founder and CEO Ben Spoont said that the decision to sell its slot and pull out from LEC was “bittersweet” for him and the company. He noted that the gaming group had to go through an “exhaustive process” to arrive at a conclusion that Team Heretics was the right organization.
“It’s bittersweet to know that our mission to diversify means that we cannot be in all places at once and we’re sad to say so long to the loving camaraderie and competitiveness of the LEC,” Spoont said.
“We did not make this decision lightly and ran an exhaustive process vetting numerous interested offer parties and came to the decision that Team Heretics was the right selection to continue on as responsible stewards of the League.”
The company has zero plans to release a few of its franchises in some of the most prestigious esports tournaments, namely in the Call of Duty League with the Florida Mutineers and another Florida-based team Florida Mayhem in the Overwatch League.
Aside from the above, Misfits Gaming Group also competes in Riot Games’ VALORANT and Psyonix’s Rocket League. For the former, the gaming company’s franchise is undergoing a series of partnership applications ahead of next year’s tournaments.
Ambition to expand beyond esports
While it might seem like the organization is slowly pulling itself away from esports, it said the move to release its LEC slot was part of its plan to fuel creative talent and expand its reach beyond the competitive gaming scene.
“For MGG, the move continues an additional step in a larger strategy to expand more of its focus on fueling creative talent alongside fielding competitive teams. MGG has increased its emphasis on partnering with top creators from the gaming and streaming community and working with them to build projects they’re passionate about,” Misfits Gaming Group said in an announcement.
Spoont also voiced a similar sentiment: “Misfits’ mission has always centered on building iconic and inclusive brands that empower our community to embrace whatever makes them unique.”
“We have partnered with a diverse, innovative roster of creators who have visions to do so much more than stream and compete. Our role as Misfits Gaming Group is to use our creative, strategic and financial resources to help our talent bring their ideas and dreams to life.”
The company’s answer to being more community-centric is the upcoming launch of TubNet — a new cross-platform Minecraft Server made alongside Tobias James “Toby” Smith or Tubbo, a popular Minecraft streamer and content creator — in August 2022.
