Heroic Is In Danger: the Club Failed to Raise Funds

Heroic failed to attract additional funds for the club's work.

The day before yesterday, pley.gg published information that Heroic is holding an extraordinary meeting with investors to attract additional funds for the organization's further work. The club needed to raise at least 10 million Norwegian kroner (about $1 million) before this year's summer. The results of the meeting became known today.

Heroic failed to raise funds

Yesterday, the pley.gg portal reported that the club failed to raise the necessary funds. Let us remind you that the total amount requested by Heroic was 80 million Norwegian kroner (about $7.5 million). These funds are required for the club to survive until 2025.

Now Heroic will hold an additional meeting with investors, but now the amount is reduced - the club is asking for 8 million crowns. Its result will be known today.

Related: Heroic may be on the verge of bankruptcy - organizations urgently need money

Heroic can go bankrupt

After the results of the first meeting, it became clear that the Norwegian club had serious financial problems. At first, it seemed that the problems were exaggerated and investors could repay the organization's expenses; after their refusal, the club became fearful.

At the moment, Heroic's biggest asset is the CS:GO roster. And if the club needs to worry about keeping the player, then the players themselves have nothing to worry about. The Danes are now in the top 2 of the world and have the potential to become the best team in the tier-1 scene. If the five losses the organization, they will quickly find a new one. And if Heroic has huge problems, the club will most likely sell the team independently.

We are following the development of events, and the result of the funds' request will be known today.