Former players and coaches of Finest's CS team have reported that the organization has yet to pay them more than $70,000. The majority of this amount is prize money for winning the Pinnacle Cup IV held in the spring of 2022. Despite the organization's promises, these funds have yet to arrive, and the players themselves have been left in the dark about their payments, HLTV has learned.
The situation is notable because Finest was for a long time one of the leading esports organizations in Israel, cooperating with major brands. However, the abrupt withdrawal from esports in the fall of 2022 left players without the promised payouts, with the organization citing economic hardship.
Payout problems and debts owed to players
In October 2022, when Finest unilaterally terminated its contracts with players, the organization ceased its esports activities. Of the $80,000 prize pool the team won at Pinnacle Cup IV, only Simon “twist” Eliasson and Rasmus “kreaz” Johansson were paid. The other players - Guy “anarkez” Trachtman, Niklas “PlesseN” Plessen, Kristjan “shokz” Jacobson and coach Bogdan Rokita - were left owing $13,000 each. At the same time, the management of the company said that all debts will be paid, but the terms were not named.
The reason for this financial crisis, the head of the company Mark Klein called the macroeconomic situation and the departure of investors. In a letter sent to players in April 2023, he promised to restructure the company and complete payments by May, but the promises were never fulfilled.
Financial hardship and impact on players' careers
The team that survived Finest's closure continued to hope for their payouts, but to no avail. In June 2023, Mark Klein admitted that he was ready to declare the company bankrupt, but decided to try and resolve the problem. However, after players repeatedly tried to contact him, they only received formal responses and eventually contact was lost completely.
Why it matters
Finest's financial problems have left a dark stain on the Israeli esports scene. Failed payments and the departure of major sponsors have affected the confidence of players and companies in the local industry. The Finest situation became an example of how lack of transparency and financial instability can ruin the careers of promising players and slow down the development of esports on a regional level.
Source: HLTV
Comments