KSV Esports, an ambitious startup founded this year with investments from South Korea and Silicon Valley, has officially acquired Samsung Galaxy for an unknown sum.
The news is not really surprising because the organization was already reported back in September to be scouting the South Korean market for representation in League of Legends. Considering that negotiations were said to be failing because of disagreements over the price, it is impressive that it was Samsung Galaxy out of all the teams that agreed to come under a new banner.
According to owner Kevin Chou, KSV Esports was very close to making deals with several other teams in the country because Samsung Galaxy was not interested in agreeing to an offer. This was months before the League of Legends World Championship (Worlds 2017) and hence, the amazing victory of the roster had not yet come to play.
“Things were on again, off again,” Chou said in a statement to Esports Observer. “Then as they went into Worlds and won, it presented a unique set of new things to think about, and negotiate with.”
He further added that the opportunity to acquire a championship team in League of Legends was a “no-brainer” and talks ultimately yielded favorable results.
Samsung Galaxy is only one of several high profile esports teams in the portfolio of KSV Esports. The startup already owns Lunatic-Hai that is playing as Seoul Dynasty in the Overwatch League. It also recently picked up MVP Black for Heroes of the Storm and a strong PlayerUnknown’s Battlegrounds roster from South Korea.