$3 000 000 Was The Price for Virtus.pro

$3 000 000 Was The Price for Virtus.pro

The VK company reported the Virtus.pro esports club's price in their 2022 financial reports. The new owners acquired the organization for ₽174 million, which at the time of the deal was about $3 million. As a result, the company's profit amounted to ₽13 million (~$222 thousand) with a book value of the asset of ₽161 million (~$2.75 million).

In addition, VK announced the signing of agreements on the sale and transfer of control over other subsidiaries in the first quarter of 2023, including the divestiture of EPICENTER (Cyprus) Ltd. and ESFORCE AGENCY Ltd. for ₽47 million (~$600 thousand).

Who purchased the Virtus.pro?

In September 2022, it became known about the change of the Virtus.pro esports club ownership. Armenian businessman Aram Karamanukyan became the club's new investor and general director. In addition, the former CEO and media director of the ESforce holding, Nikolai Petrosian, became the organization's head.

This deal and subsequent reshuffles in the club's management positions raised severe doubts about the deal's legitimacy. However, the organization kept all partnerships, and the new owner hadn't seen much previously among members of the esports community. You can read more about it here.

Sanctions against Virtus.pro

In various esports disciplines, except for CS:GO, the ownership change allowed the Virtus.pro teams to compete under their tag, while Djame Jame Ali's team continues to play under the name Outsiders. However, tournament operators have restricted using the organization's tag due to the club's connection with the Russian government amid the full-scale invasion of Ukraine.

Recently, the tournament operator ESL announced possible changes in the Virtus.pro club's structure. During Russia's invasion of Ukraine, no representative condemned the war. Although legally, the documents have been changed, and the club no longer has connections with sanctioned legal entities, which may lead to the unbanning of the organization's tag use.