Apeks Pulls Out Of Counter-Strike Due To Financial Issues

Norwegian esports organization Apeks has decided to cease operations in Counter-Strike: 2. Their roster made it to the last... Owen | 30. May 2024

Norwegian esports organization Apeks has decided to cease operations in Counter-Strike: 2. Their roster made it to the last two Majors, and it looks like it wasn’t enough.

The Apeks CS2 squad, featuring prominent names such as STYKO, jkaem, and nawwk, announced the benching of all members in its active roster. Eventually, players were bought out and went to different teams. 

This organization qualified for the two previous Counter-Strike Majors, including the BLAST.tv Paris Major, where the team finished 3-4th place with jL. According to reports, over $100,000,000 in sticker revenue was distributed evenly to 24 participating teams, meaning Apeks would have gotten a share of at least $4,000,000.

Apeks announced the business was facing challenging economic circumstances, and is reevaluating its strategy for the future of the company. They decided to step out of Counter-Strike entirely to focus on VALORANT.  Counter-Strike operations were halted, and employees were unfortunately laid off. 

The Chairman of the Board, Ole Anfinnsen, shared the following words:

“As Chairman of the Board, I feel it is important to act on these challenges directly. These difficult decisions, including the temporary layoffs and the pause of our Counter-Strike division, were made with a heavy heart to secure a sustainable future for Apeks. Investing in Apeks has been a labor of love for me. My commitment to the team and to the vision we all share remains unwavering. We are determined to overcome these challenges and emerge stronger than ever. Thank you for understanding and continued support.”

As a result, Apeks has shifted complete attention to its VALORANT division, which includes the following players:

  • Auni “AvovA” Chahade
  • Tautvydas “hype” Paldavicius
  • Kajetan “kaajak” Haremski
  • Michał “MOLSI” Łącki
  • Dom “soulcas” Sulcas

The VALORANT squad is not currently in franchising after the team sent Mistic, Enzo, and Keiko to Team Liquid.

Fans were wondering why this move happened. Qualifying for a Counter-Strike Major will guarantee millions in sticker revenue, which can be reinvested into the company. Sure, players will take a significant cut, but the salary of the Apeks players shouldn’t exceed $10,000 per month. 

Another weird occurrence was revealed by BLEED’s head coach, kassad. Recently, nawwk and jkaem were bought out by BLEED Esports, and the pair is still playing under the roster. Kassad mentioned in a podcast that he was already interested in the two players half a year ago. However, buyouts were a decisive factor, but not until the players were put up for transfer.

According to kassad, he asked Apeks in January 2024 to buy out jkaem. Apeks requested a mind-blowing fee of $1,200,000, which is more than many top 20 players in the world. Jkaem is undoubtedly a good player, but shouldn’t be priced that high. Additionally, nawwk was given a price of $450,000. 

Five months ago, BLEED would have to pay $1,600,000 to obtain the two players. However, after the roster was transfer-listed, both were sold for $130,000, $65,000 each. 

Header: Apeks