The payment will be spread over a few years
This report has been edited with new official information at the bottom.
Karmine Corp have officially announced their entry into the League of Legends European Championship (LEC) on Twitter. This entry is possible thanks to a deal between Astralis and the French organization.
Sheep Esports sources mentioned that the fundraising this year does not cover the entirety of the transaction, and new fundraising efforts will be necessary. In the event of payment default, Astralis will have the right to secure itself with a stake in the ownership.
This change is likely to disrupt the LEC offseason, which is expected to begin shortly after the conclusion of the Worlds for European teams. Additionally, Karmine Corp will also need to assemble a second roster for the LFL, as per Sheep Esports sources.
Karmine Corp and Astralis had been in discussions as early as last year, as Kameto has always dreamt of being able to play in this league. However, this ambition also means the possibility of qualifying for the Worlds next year. Will "Saken > Faker" now cease to be just a dream? Stay tuned.
EDIT: Astralis reported the finalization of an arrangement to transfer its League of Legends European Championship slot to a recently established, fully owned subsidiary known as AK-Game SAS, with a total agreed valuation of DKK 194 million. Following this, Karmine Corp SAS will acquire 66.67% of the shares in AK-Game SAS for DKK 129 million. This total valuation for the LEC spot translates to 26 Million Euros at current rates.
The sale will take place in installments from 2023 to 2025, with Astralis maintaining a 33.33% capital interest in AK-Game SAS. The agreement includes clauses that allow Astralis to initiate additional share transfers, potentially transferring 100% of the shares to Kcorp by 2031.