Yesterday, the CEO of the Sentinels organization, Rob Moore, released an interview on his Youtube channel. In it, he discussed the financial aspects of the company, the challenges they've encountered, and the engagement of fans in investing.
According to him, the company plans to attract more investors for funding. If this doesn't happen, the organization can only operate effectively for another 2-3 months. The main reason for the financial issue lies in the high expenses on players and staff. As it turns out, Sentinels spend about $700,000 a month on player and employee salaries, as well as their paid trips and necessary equipment. This amount is massive, especially considering that the Sentinels' Valorant team hasn't achieved significant success in the current season and hasn't brought significant prize money to the company.
Rob Moore also talked about a crowdfunding campaign to involve the organization's fans in its financing. More about this can be read in our article.
The CEO mentioned that the campaign is bearing fruit and has already gathered over a thousand fans who have joined the ranks of the company's financiers and invested various amounts. It's worth noting that the minimum amount for buying into the Sentinels fan club is $300, while the maximum is $50,000.
Rob Moore attributes the primary reason for the financial difficulties to the ambitious development of the organization. He said the Valorant team was a rookie compared to other North American teams, so the company had to make every effort to bring Sentinels to the level of other professional teams, and they succeeded.
In the past two years, we've invested heavily to develop this momentum in Valorant and to reinforce our brand. During this time, we've gained more followers on Twitter than any other organization in North America. In 2022, we had the highest engagement among all North American esports organizations on Twitter,
In conclusion, the CEO added that all this has led to tangible results. Even though Sentinels have only existed for five years, they have the same impact as most of the legendary North American organizations. Despite the current financial difficulties, Rob believes the organization can turn things around and become profitable again.
We are optimistic about our path to reducing these losses, and we hope that we will become profitable sooner rather than later.
It's worth noting that Sentinels failed to perform at the Valorant Champions Tour 2023: Americas Last Chance Qualifier, finishing the qualification in 4th place. This prevented the team from participating in the current world championship, Valorant Champions 2023, where they could have competed for a significant prize pool of $2,250,000.
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