Astralis and Origen sold to Astralis Group ApS
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RFRSH Entertainment has officially sold its Counter-Strike: Global Offensive team Astralis and its League of Legends team, Origen. According to Danish outlet TV 2 Sport, the sale was worth $11-$16.6 million dollars.
The new owners, Astralis Group ApS, is a new Danish investment group with an eye on esports. This removes any possibility of a conflict of interest between Astralis and BLAST Pro Series, which were both owned by RFRSH. Former RFRSH executives Nikolaj Nyholm, Jakob Lund Kristensen, Kasper Hvidt, and Steen Lauridsen are also making the move to Astralis Group ApS.
The deal seems to revolve around the desire to remove any connection between the esports organiser and any teams since BLAST Pros Series received a lot of criticism over its ownership of Astralis. RFRSH founder and former CEO Nikolaj Nyholm explained that there would be no overlap on a shareholder level between both companies. As a result, any individuals that own shares in both would have to sell either their holdings in BLAST or Astralis.
This criticism from the community reportedly led to poor relations between Astralis and RFRSH. It is even credited to be the cause of the team's recent drop in performance.
Astralis will be competing in StarLadder Berlin Major as the defending champions, with their first appearance scheduled for August 28 at the New Legends stage. Hopefully, with this sale behind them, the team can now focus on what they're good at. I.e. winning tournaments.