News Crows buy professional eSports team - Update: SOLD

[crowtricolours]

A few new sponsorship deals ........

https://ministryofsport.com.au/adelaide-crows-bolster-esports-operations-with-two-new-deals/

https://www.itwire.com/deals/optus,-adelaide-crows-agree-long-term-esports-deal.html

META High School Esports secures sponsors in Acer and Intel - Esports Insider

META has stated that the sponsorship will allow them to fund further gaming peripherals, secure venues for tournaments, and expand their reach to high school esports enthusiasts, particularly through new training camps.

esportsinsider.com

 

[Sanders]

A few new sponsorship deals ........

https://ministryofsport.com.au/adelaide-crows-bolster-esports-operations-with-two-new-deals/

https://www.itwire.com/deals/optus,-adelaide-crows-agree-long-term-esports-deal.html

META High School Esports secures sponsors in Acer and Intel - Esports Insider

META has stated that the sponsorship will allow them to fund further gaming peripherals, secure venues for tournaments, and expand their reach to high school esports enthusiasts, particularly through new training camps.

esportsinsider.com

Wow

Let it rain

 

[dogs105]

Job opportunity:

 

[Elite Crow]

Job opportunity:

Burton

 

[dogs105]

Burton

Don't think he'd have the skills

 

[1970crow]

Don't think he'd have the skills

And?

 

[Rory Walkerfield]

Job opportunity:

There it is, the review found that the old camera editor was the issue!

 

[WaynesWorld19]

 

[Cole Dammett]

Would you expect that they have made a profit or loss on this?

 

[GreyCrow]

Would you expect that they have made a profit or loss on this?

After two years involved in esports, the transfer and sale of the Bombers’ OPL licence to Pentanet have importantly enabled the club to recognise an increase in the enterprise value of the asset.

I cant translate this - but it seems to me that its not a direct profit but the peripherals such as sponsorship money and fan engagement money

But I could be wrong

 

[GreyCrow]

Reading the comments underneath is like reading this thread

 

[WaynesWorld19]

After two years involved in esports, the transfer and sale of the Bombers’ OPL licence to Pentanet have importantly enabled the club to recognise an increase in the enterprise value of the asset.

I cant translate this - but it seems to me that its not a direct profit but the peripherals such as sponsorship money and fan engagement money

But I could be wrong

Looks like trading profit, no .....but by reselling the license, they realised an asset profit, which also covered any trading losses

 

[Relaxed]

Looks like trading profit, no .....but by reselling the license, they realised an asset profit, which also covered any trading losses

Sounds like they sold the asset/license for more than they paid, but lost money on the operations side.

Eg (figures made up)
Buy license for $500k
Operating cost per annum $250k (500k over 2 years)
Sponsorship income per annum $200k (400k over 2 years)
Sell license for $550k

Enterprise value of license $50k increase
Operating losses over 2 years $100k
Net loss $50k

If they made both a profit on the license side and from operations/sponsorships/engagement, they wouldn't bother selling, plus they would be screaming WE MADE A PROFIT in bold all over their press release.

"After two years involved in esports, the transfer and sale of the Bombers’ OPL licence to Pentanet have importantly enabled the club to recognise an increase in the enterprise value of the asset."

Just using accounting terminology re: ev of the asset to hide that they were making operational losses.

 

[Scorpus]

We've sold the Esports team

 

[cmndstab]

So I've completed ignored everything to do with our esports team. Did we end up making a profit?

 

[Scorpus]

So I've completed ignored everything to do with our esports team. Did we end up making a profit?

The club has never said and usually danced around the topic

Reading between the lines you would think they have made a loss (or at best, broken even) on the venture

 

[radiojake]

how is Nigel gonna innapropriately solicit young female gamers now?

 

[jo172]

 

[Mr_Moogle]

Hope the price we got was just right.

 

[DJ75]

What a shambles the whole Fagan/Smart era was. An utter farce from start to finish.

 

[spenze]

how is Nigel gonna innapropriately solicit young female gamers now?

Could ask Paine for some pointers

 

[CrowsB4hoes]

Didn’t realize it was Sydney based. What a waste of time the whole thing was.

 

[MRB37]

Didn’t realize it was Sydney based. What a waste of time the whole thing was.

Wasn't a waste for Smart who got to draw a salary for a few years from it.

 

[CrowEater888]

We've sold the Esports team

Sold for a six pack of Monster and a used copy of World of Warcraft.

We definitely won that deal.

 

[1970crow]

We're gazzillioaires.