After seven years of organizing Smash Bros tournaments, Shine announces that its history has ended due to its different financial problems.
Shine has been known for organizing major tournaments for all Smash Bros titles since 2016. However, like many companies linked to esports, Shine has had some financial problems that have made them take this drastic decision. With this, the popular Shine Smash Bros tournament will likely come to a definitive end.
Shine announces the halt of Smash Bros tournaments
Shine announced the end of Smash Bros tournaments citing financial problems in recent months through its official Twitter account.
It's a bittersweet moment as we announce the final SHINE. Due to economic circumstances surrounding esports in general and TO's wishing to move onto the next chapter of their lives, this will be the last time we run SHINE.
— Shine Series (@Shine_Series) April 13, 2023
According to the official statement from the organization, Shine has a debt with many people in charge of the organization and development of Smash Bros. tournaments. In addition, they claim that in the coming weeks, they will design a strategy to receive income to help them finance this year’s costs.
However, this does not mean that everything stops here, as Shine announces that plans continue for the event in August 2023. However, the statement implies that it will be the last one they will host, and from that point on, they will be wiping the slate clean regarding Smash Bros. tournaments.
The cancellation of Smash Bros events has been recurrent in recent times
While this might surprise many, let’s remember that we have recently observed how different organizers announced the closure of their tournaments. For example, Beyond the Summit recently canceled all Smash Bros tournaments.
Thank you ❤️ pic.twitter.com/dJDQAjDdzB
— Beyond the Smash (@BTSsmash) March 27, 2023
As we mentioned, Shine Smash Bros 2023 will be held this year in August and will be the last to be organized. On the other hand, Shine will also organize a merchandising campaign, mainly aimed at raising the necessary funds to finance this year’s tournament and pay their debts.
Future of Smash Bros
While it is true that some tournament organizers have decided to walk away from the competitive Smash Bros scene citing economic problems, there is still a lot of fabric to cut in this spectacular esports.
In recent weeks we have seen how top players like Leonardo “MkLeo” Lopez Perez and Gavin “Tweek” Dempsey were signed by Luminosity Gaming. This undoubtedly shows a great commitment to the scene by one of the largest organizations in North America.
The Greatest Smash Roster of All Time is Here.
Welcome, @TweekSsb and @Mkleosb pic.twitter.com/Ai1WGw9PBA
— Luminosity Gaming (@Luminosity) March 23, 2023
Also, while Shine and Beyond the Summit are moving away from the scene, others like Hungrybox’s Coinbox are breaking through and betting everything on it.
CONGRATS TO THE WINNER OF THE ULTIMATE COINBOX #57: @Sparg0ssb !
1st: FaZe Sparg0 $1200
2nd: Sonix $600
3rd: Liquid | Riddles $450
4th: Lima $300
5th: Shory's ShinyMark / Vendetta $150
7th: INC | Jahzz0 / TimeGear $75 pic.twitter.com/3WQjFT7mMd
— hungrybox (@LiquidHbox) April 13, 2023
Financial problems in esports
In recent months, global financial problems have greatly affected the esports industry. As a result, several teams have decided to close some of their divisions because they are not profitable. At the same time, other large organizations have decided to abandon some ships that, in other years, we might have thought impossible to happen.
Today we have seen the popular North American organization TSM in financial trouble. CLG walked away from the League of Legends scene, and several teams in the CDL are considering a sale.
It remains to wait for how the different Smash Bros event organizers will face the competitive scene in this 2023 and the game’s future.