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European organization FC Schalke 04 is set to sell their LEC Spot, according to a report from Sky Sports Germany.

Schalke’s Marketing Director Alexander Jobst publicly confirmed in their annual general meeting that the club have to part ways with the esports industry, the report said.

Various publications reported that Schalke were looking to sell their LEC spot around €20-30 million.

The club’s esports Managing Director Tim Reiceart disclosed to TEO on June 6 that they were in talks for a potential sale with more details to come in the next “10-14 days.”

Schalke’s soccer team finished last in the Bundesliga 2020/2021 season with 16 points, which saw them relegated to the lower division for the first time in 33 years. Their financial difficulties, due to the coronavirus pandemic and relegation, left Schalke in a tight financial position.

Tthe club’s debt is estimated to be over €200 million.

The race to buy Schalke’s LEC spot

Since the news of Schalke’s potential sale broke out, fans have speculated which team will secure the spot.

Many in the LEC community have suggested BDS and Giants Gaming to be favorites in the race, although this remains speculation.

LFL’s BDS could be in a financial position to purchase Schalke’s LEC spot. Their CEO, Patrice Bailo de Spoelberch owns different investment groups with his family. However, they will have to prove to Riot their long term intentions for the spot.

Giants Gaming could be another potential candidate to buy Schalke’s LEC spot. They were involved in the EU LCS till the introduction of franchising, where their application was denied. The organization currently competes in Spain’s LVP SuperLiga and will be eager to return to the biggest stage in European League of Legends.

One of the teams involved in the potential sale do not have a League of Legends team, however, according to anonymous LEC leaker “Wooloo.”

Heretics may be introduced, if this is the case. Karmine Corp are another potential candidate, also.

What happens to Schalke’s LEC roster

Schalke's LEC roster
Schalke players in the LEC studio| Image by Riot Games

With Schalke’s exit from the LEC drawing closer, it is unclear what will happen to their existing roster.

Schalke is set to compete in the second week of the LEC on June 18.