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NASL were over $1.6 million in debt

Forum Index > SC2 General
126 CommentsPost a Reply
1 2 3 4 5 6 7 Next All
Xiphos
Profile Blog Joined July 2009
Canada7507 Posts
May 22 2014 21:00 GMT
#1
"As many of our long standing readers will know, we have been investigating the collapse of NASL for some time, interviewing all involved and wondering exactly how it happened. Over the course of compiling information for this piece we obtained a letter from the insolvency company NASL used after declaring bankruptcy and it shows that things had gotten worse than perhaps anyone could have anticipated."

Read more at: http://www.esportsheaven.com/news/view/64380
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2014 - ᕙ( •̀ل͜•́) ϡ Raise your bows brood warriors! ᕙ( •̀ل͜•́) ϡ
Zealously
Profile Blog Joined October 2011
East Gorteau22261 Posts
May 22 2014 21:03 GMT
#2
Somewhat disappointing, but hardly surprising. You don't close up shop that quickly unless there's a serious reason behind it, and a debt like this fits well into what we already knew about the NASL and its closure.
AdministratorBreak the chains
Xiphos
Profile Blog Joined July 2009
Canada7507 Posts
May 22 2014 21:05 GMT
#3
Its still kind of sad to see startup professional gaming business that delivered high quality products to go under. It shows that this progamming business is still in its infancy and still very volatile.

How were NASL's viewership?
2014 - ᕙ( •̀ل͜•́) ϡ Raise your bows brood warriors! ᕙ( •̀ل͜•́) ϡ
Kleinmuuhg
Profile Blog Joined September 2010
Vanuatu4091 Posts
May 22 2014 21:06 GMT
#4
unfortunately with so many people trying and investing there we bound to be some that wouldnt make it financially successfull
This is our town, scrub
ragz_gt
Profile Blog Joined April 2012
9172 Posts
May 22 2014 21:06 GMT
#5
1.6mil sounds like.... a really small number for NASL TBH.
I'm not an otaku, I'm a specialist.
Sawofhackness
Profile Joined May 2011
Afghanistan183 Posts
May 22 2014 21:08 GMT
#6
All respect to ventures and companies that take risks with E-sports, but it's a cruel mistress
myxoma_strain
Profile Joined December 2013
United Kingdom371 Posts
May 22 2014 21:08 GMT
#7
the letter implies that not all prize money was paid out. Do we know if anyone hasn't been paid? Also, I was under the assumption it was blizzard that provided the prize money. Would that complicate the payout process?
myxoma_strain
Profile Joined December 2013
United Kingdom371 Posts
May 22 2014 21:10 GMT
#8
Also, a plain text copy would be appreciated for reference
Xiphos
Profile Blog Joined July 2009
Canada7507 Posts
Last Edited: 2014-05-22 21:11:48
May 22 2014 21:10 GMT
#9
On May 23 2014 06:08 myxoma_strain wrote:
the letter implies that not all prize money was paid out. Do we know if anyone hasn't been paid? Also, I was under the assumption it was blizzard that provided the prize money. Would that complicate the payout process?


The cynic in me thinks that NASL might have spent those money in their production rather than paying out the players to keep their sponsors on the hook.

If that were the case, then that's a whole another can of worms.

On May 23 2014 06:10 myxoma_strain wrote:
Also, a plain text copy would be appreciated for reference


Come on now, show Richard Lewis some love
2014 - ᕙ( •̀ل͜•́) ϡ Raise your bows brood warriors! ᕙ( •̀ل͜•́) ϡ
Plansix
Profile Blog Joined April 2011
United States60190 Posts
May 22 2014 21:12 GMT
#10
This was going to happen to someone on a long enough time line, I am just sad it happened to NASL. Still that's a lot of people not getting paid.

As for players and prize money, it depends on who was paying it out. If they were owed money for WCS, I think blizzard would pick up the tab after the dust settles. For other events, the players may have to get in line.
I have the Honor to be your Obedient Servant, P.6
TL+ Member
Ctone23
Profile Blog Joined December 2012
United States1839 Posts
Last Edited: 2014-05-22 21:14:08
May 22 2014 21:12 GMT
#11
That's sad.. and no small amount of money either. Possible prize winnings unpaid, just what we need..
TL+ Member
myxoma_strain
Profile Joined December 2013
United Kingdom371 Posts
May 22 2014 21:13 GMT
#12
On May 23 2014 06:10 Xiphos wrote:
Show nested quote +
On May 23 2014 06:08 myxoma_strain wrote:
the letter implies that not all prize money was paid out. Do we know if anyone hasn't been paid? Also, I was under the assumption it was blizzard that provided the prize money. Would that complicate the payout process?


The cynic in me thinks that NASL might have spent those money in their production rather than paying out the players to keep their sponsors on the hook.

If that were the case, then that's a whole another can of worms.

Show nested quote +
On May 23 2014 06:10 myxoma_strain wrote:
Also, a plain text copy would be appreciated for reference


Come on now, show Richard Lewis some love

All credit to him, I just want to be able to provide the quote when someone who hasn't read it inevitably calls me out
myxoma_strain
Profile Joined December 2013
United Kingdom371 Posts
Last Edited: 2014-05-22 21:19:28
May 22 2014 21:14 GMT
#13
It has come to the Assignee’s attention that there are potential consumer claims for unpaid prize obligations which may qualify for priority claim status.

page 2, in the middle of the big paragraph
Plansix
Profile Blog Joined April 2011
United States60190 Posts
May 22 2014 21:28 GMT
#14
On May 23 2014 06:14 myxoma_strain wrote:
It has come to the Assignee’s attention that there are potential consumer claims for unpaid prize obligations which may qualify for priority claim status.

page 2, in the middle of the big paragraph

That doesn't necessarily mean it's a lot or any at all. It could be zero, but the attorney filing is not 100% sure, so he is leaving it out there for potential claims.
I have the Honor to be your Obedient Servant, P.6
TL+ Member
LongShot27
Profile Joined May 2013
United States2084 Posts
May 22 2014 21:39 GMT
#15
On May 23 2014 06:08 Sawofhackness wrote:
All respect to ventures and companies that take risks with E-sports, but it's a cruel mistress


I agree, I figured they would have been multimillions of dollars in debt
If all men were created equal there would be no reason to declare it.
LongShot27
Profile Joined May 2013
United States2084 Posts
May 22 2014 21:40 GMT
#16
On May 23 2014 06:12 Plansix wrote:
This was going to happen to someone on a long enough time line, I am just sad it happened to NASL. Still that's a lot of people not getting paid.

As for players and prize money, it depends on who was paying it out. If they were owed money for WCS, I think blizzard would pick up the tab after the dust settles. For other events, the players may have to get in line.


I think premier and challenger league are funded by Blizzard anyway, so with that I think theyre ok
If all men were created equal there would be no reason to declare it.
qotsager
Profile Joined March 2012
Germany585 Posts
May 22 2014 21:40 GMT
#17
i was wondering how they managed to entertain a team this big with viewernumbers being this low.
***Official ABL Winner 2013***
radscorpion9
Profile Blog Joined March 2011
Canada2252 Posts
May 22 2014 21:41 GMT
#18
That sounds like a lot of money to me, but its difficult to understand what the scale is relative to the size of the company. Is this a big deal considering the number of viewers they had and the revenue they were making? Because this sounds like an enormous amount of debt to me...I'm surprised things managed to get so bad! I wonder what happens to all that...is it just an 'oops' I guess you creditors lost your money type of deal?
Boonbag
Profile Blog Joined March 2008
France3318 Posts
May 22 2014 21:43 GMT
#19
crazy foreign leagues & esports millions
nkr
Profile Blog Joined November 2010
Sweden5451 Posts
Last Edited: 2014-05-22 21:48:46
May 22 2014 21:47 GMT
#20
it's all in that big truck!


Also it's easy for everyone to be all hindsighthero, but the fact is when nasl was announced in the end of 2010 or early 2011, an investment like this didn't make people go "what are they doing?". People thought sc2 was the next big thing, but it ended up being LoL and Dota2 instead. Shit happens.
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