Parent company OverActive Media are set to shut down Splyce brand heading into 2020 as part of a restructuring project.
OverActive Media, which is the main company that owns esports brands: Call of Duty Toronto, Toronto Defiant, Mad Lions and Splyce, has made a decision to close down the Splyce brand at the end of the year as part of a restructuring within the company.
This was according to a new report made by Dexerto’s editor Richard Lewis.
OverActive Media told the employees at Splyce of the decision and gave them severance packages. The report noted that the final closure of the brand will take place in December.
The report claimed that employees who were affected by the decision contacted Dexerto with the news after they were informed and offered severance packages.
It now seems that OverActive Media are heading into 2020 to focus more on their Toronto based brands.
The number of staff that will be affected by this decision is unknown, neither is the future of Marty Strenczewilk, the former CEO of Splyce and now Senior Vice President of Team Operations for OverActive Media.
Splyce was created in 2015 and was bought by OverActive Media in November of 2018 for an undisclosed amount. The formal purchase was announced later after Splyce was awarded a slot in the Riot Games European franchise league, LEC.
The report stated that one former employee claimed the reason for the naming of the League of Legends franchise is to rebrand the Splyce team as “Mad Lions,” a Spanish esports brand that was also purchased by OverActive Media in May of this year, and that the Spanish League of Legends team will be dropped as a result of this.
Although the reasons for the closure are not completely clear, the Splyce brand is the oldest and most successful esports brand in OverActive Media’s portfolio. They have the highest social media following due to their housing teams in multiple titles.
OverActive Media will still go on operating with Splyce’s Worlds-qualified League of Legends lineup.
After they reached second place in the LEC regional qualifier finals, Splyce’s League of Legends roster reached third seed in the World Championship. The esports team are set to compete in the tournament’s play-ins which begins on October 3 for a spot in the group stage.
Article by: Collins Nwokolo
