The Copenhagen Flames Announced Financial Difficulties: Another Danish Organization Under Threat of Extinction
The esports organization Copenhagen Flames has started looking for investments. To continue the existence of the Danish club, it is necessary to attract about $734 000.
In an official statement on the Capino portal, the organization reports that funds will be needed to create a financial base and launch some initiatives to reach profitability in 2024. In addition, the announcement notes that Copenhagen Flames are donors to the professional CS:GO scene — the club grows players and sells them to other teams.
Who else announced financial difficulties?
On March 13, information appeared online that Heroic was experiencing financial problems. Then the club held an emergency meeting to find the necessary funds to continue its activities. Heroic needed to raise about 10 million Norwegian kroner, approximately $1 million, to survive.
This is only the first installment because to continue functioning until the end of 2025, the club needs about NOK 80 million. Currently, the team is in a challenging position, and, despite its success on the competitive scene, it still has many financial problems. Therefore, the organization has until the end of the summer of 2023 to raise the necessary amount.
Later it became known that Heroic could collect from 8 (~$759 000) to 15 ($1.4 million) million Norwegian kroner. You can read more about it here.
The Copenhagen Flames organization was created in 2016. The club's primary asset is a CS:GO team that has won many online tournaments and participated in the PGL Major Antwerp 2022 playoffs. In addition, famous players such as Ismail refrezh Ali, Rasmus HooXi Nielsen, Jakob jabbi Nygard, Fredrik roeJ Jorgensen, and Rene TeSeS Madsen went through the organization.
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