RNG rumored to be looking to sell after money troubles
Oct 27, 2022
Massive Chinese esports organization Royal Never Give Up, or RNG, is rumored to be looking to sell the brand and its LPL slot, according to reports.
Reports emerged earlier this week that suggested that Chinese esports titan RNG was looking to sell the organization to new ownership, along with its LPL slot. According to reports, TikTok owner Bytedance is in consideration to acquire the organization.
Is RNG being sold?
Rumors emerged on October 25, 2022, that Royal Never Give Up was looking to sell itself to new ownership. This news is as of yet unconfirmed but could promise to shake up the League of Legends space, with one of China’s most recognizable teams going through a partial makeover. The organization has seen significant success domestically and internationally, but rumors of it looking to sell could make some sense.
Royal Never Give Up has had some difficulties in the past years with legal troubles, including former player Liu “Mlxg” Shi-Yu suing Royal Never Give Up’s agency for unpaid salary in 2021. The ex-jungler took to Weibo to say that RNG had failed to pay his streaming contract’s down payment and salary. At the same time, the once-dominant organization has managed to consistently capture domestic victories, with a spring split victory in 2021 and 2022, and the 2022 Mid-Seasonal Invitational after facing T1 in the finals.
RNG’s competitive success doesn’t preclude them from money troubles, however, and the rumors put the starting price of the organization at a surprisingly small $27 million dollars. The new purchaser would add their name to the latter half of the RNG name, as fans have seen in North America with TSM FTX and Dignitas Qntmpay.
If these rumors turn out to be true and RNG is selling, it will be a testament to the constant rigors of the esports space. To see an organization as large as RNG sell for such a surprisingly low price could well signal the beginning of the esports money bubble that many have been predicting. For now, these rumors are unconfirmed and RNG shouldn’t be assumed to be going anywhere just yet.