Danish esports organization “North” shuts down due to financial issues
Popular European Esports organization “North” has shut down all its operations due to financial crisis amidst the COVID-19 pandemic. The organization had leading teams in CS:GO, FIFA and Apex Legends.
Several players expressed disappointment, especially a few from Astralis and Ninjas in Pyjamas. “Despite the great rivalry we’ve had over the years, this is a really sad day for esports,” said Astralis head coach Danny Sørensen in a tweet.
Due to financial difficulties and the unfortunate pandemic, Parken Sport & Entertainment and Nordisk Film chose to stop investing in North and focus on their main businesses instead.
Here’s what the executives had to say
Parken Sport & Entertainment Director Lars Bo Jeppesen said “today is a sad day”, the cheep read, “North Esports no longer exists. We have searched the market for one or more co-investors on board the project, but unfortunately we have not found the right match.”
“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.”
North Esports had hoped to “consolidate a position among the world’s elite organizations and help lead the transformation of esports” last year, as per the info in their website. The pandemic has forced organizers and teams from all over the industry to cancel events, which made them disband their organisation.