Schalke 04 is facing severe financial problems which resulted in the organisation having to sell their LEC spot just as the team found its footing.
Schalke 04 is an unusual organisation when it comes to the professional League of Legends ecosystem. Hailing from the German football team, the esports faction went through bright and rough patches during their stay in LEC but never abandoned it to pursue other opportunities.
The team was even relegated and then made it back to the top of European League of Legends and they are in a somewhat similar place when it comes to the Bundesliga team as they will be appearing in Zweite next season. With the football team's relegation came financial problems and one of the ways of combatting it was to sell the LEC license for €30 million.
While the team found profit of about 22 million Euro in this move, the forced sale had to be bittersweet since the investment was going on for several years and S04 Esports were showing signs of greatness during LEC Spring Split 2021 where they placed fourth in the play-offs. With just one spot above in the Summer Split, the team could go on to make Worlds 2021 but it was not meant to be.
The news is coming from BILD's Schalke-related reporter, Max Backhaus, who noted that the license will be sold to an investor.
Backhaus didn't specify who the investor was but it's quite possible the full reveal will be found in BILD itself.