Heroic reported losses of more than $20 million for 2022 - the club's future is in jeopardy

Of these losses, $14.3 million are debts owed to the parent company, while $6.1 million are owed to the subsidiary company, Heroic AS. Both companies are required to pay back $4.7 million by the end of 2023. As of the end of 2022, the club had $5.8 million in assets. According to the auditing firm Crowe, Heroic Group urgently needs additional investments to continue its operations.

The future of the CS:GO roster

In fact, even in the event of the organization's bankruptcy, esports players have nothing to worry about. Currently, the Heroic CS:GO lineup is one of the best on the professional scene, and even if the players lose the club, they will quickly find a new one.

Most likely, if Heroic is on the brink of bankruptcy, the most probable scenario is that the club will sell the roster itself to alleviate financial problems. Therefore, it is unlikely to affect the players much, except for possible changes in organizational matters.

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In late March, information emerged about financial problems at the Heroic club. In his address to shareholders, CEO Joachim Haraldsen said the organization needed to attract around $7.5 million in investments by the end of 2025, as well as about a million dollars by the summer of 2023 to continue operating. A week later, it was reported that Heroic had sold 10 million shares for a total of $760,000 to $1.43 million.