ENCE Files for Bankruptcy, Ending 13-Year Esports Journey
Written with artificial intelligence.
Finnish esports organization ENCE has filed for bankruptcy after a 13-year history marked by notable achievements, including a second-place finish at the 2019 IEM Katowice Major. The decision follows significant financial losses, attributed mainly to the team's poor performance and a decline in revenue.
ENCE's Bankruptcy Announcement
The Finnish esports organization ENCE has announced its decision to file for bankruptcy, marking the end of an era that spanned 13 years. This decision was made by the board of ENCE eSports Oy, who expressed their gratitude to players, staff, partners, and fans in a social media post titled "The End of an Era."
Financial Struggles
Reports indicate that ENCE has faced financial difficulties, losing over 1.5 million euros in the past two years. In the last fiscal year, the organization reported a loss of 940,000 euros on a revenue of 1.32 million euros, a staggering 59.8% decrease from the previous year. The decline has been linked to the international Counter-Strike team's lackluster performance and the end of ESL's partnership program.
Notable Achievements
Throughout its history, ENCE achieved significant milestones, including participation in the 2019 IEM Katowice Major, where they finished as runners-up. The team also secured titles in 2019 and at IEM Dallas 2023, showcasing the talent of players like Aleksi "Aleksib" Virolainen and Marco "Snappi" Pfeiffer. Additionally, Finnish StarCraft II player Joona "Serral" Sotala captured the 2018 world championship while representing ENCE, becoming the first non-Korean to win the WCS Global Finals.
Recent Developments
The organization has struggled to maintain a competitive presence, with its last top-tier event participation recorded in September 2024. As of the bankruptcy filing, ENCE's ranking had fallen to 103rd in Valve's global standings. The final roster included Teemu "teme" Korva and Aleksi "millert" Lehtopuu, among others, with allu serving as coach. This announcement comes on the heels of Evil Geniuses also announcing their operational cessation, highlighting ongoing challenges within the esports industry.