VK sold the Virtus.pro club for an “insignificant” amount – investments in eSports did not materialize

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The Vedomosti publication drew attention to the fact that yesterday’s financial report from the UK holding company for 2022 details the sale of Russian esports club Virtus.pro.

    Image source: Virtus.pro
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Image source: Virtus.pro

The fact that Virtus.pro is no longer an asset of VK was indicated on its website in September 2022 by the ESforce holding company owned by the company. On the same day, Armenian businessman Aram Karamakunyan became owner and general manager of the club.

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At that stage, the details of the transaction were not disclosed, but, as it became known from the UK report, Virtus.pro was sold for 174 million rubles (the book value of the asset was 161 million), of which 13 million was sold by the holding company as profit accounted for.

    Virtus.pro at the Warface VK Play Cup 2 Tournament LAN Finals

Virtus.pro at the Warface VK Play Cup 2 Tournament LAN Finals

According to experts interviewed by Vedomosti, it is not easy to make money from esports under the sanctions, which is why VK is getting rid of its esports assets for “much smaller than the original deal” money.

The founder of the Vengeance Games studio, Konstantin Sakhnov, believes that against the background of VK’s previous investments in the esports sector, the amount of 174 million rubles seems “unimportant”.

    Nikolai Petrosyan

Nikolai Petrosyan

In December 2022, Nikolay Petrosyan, former top executive of ESforce, replaced Karamakunan as CEO of Virtus.pro. Since the beginning of 2023, the club has been representing Armenia, not Russia, in international eSports tournaments.

Founded in 2003, Virtus.pro is currently in the top 10 clubs in the world in terms of prize money earned (over $18 million). Currently, the team has lineups for Dota 2, CS:GO, PUBG Mobile, Warface, and other games.

Source : 3D News

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