Shock News: Name Sunning is about to be “wiped out” from the LPL

Chinese sources said that parent company Suning is selling the team to another organization to cover its debt.

Specifically, a source on Weibo social network said that the Suning Group’s leadership has transferred the ownership of Suning Electronic Sports Organization (Suning Gaming / Suning Esports) to … Weibo – Website China’s top society today.

Suning, also known by its former name Suning Gaming, is a Chinese professional esports organization owned by e-commerce company Suning.com. Its League of Legends team competes in the LPL, the top-level league for the game in China.

The source also said that the transfer of ownership stems from the difficulties Suning parent company has encountered in the past year. On December 10 last year, Chinese media simultaneously reported that Suning Holding Group had pledged all of the company’s equity to Taobao Software Group. The registration date for the transfer was announced on December 4, 2020, with a total value of about 1 billion yuan, equivalent to the charter capital of Suning Holding.

According to experts, in order to be able to pay off the debt, Suning will be forced to sell some of its major projects, including the esports organization Suning. New.qq reported that Weibo, whose full name is Sina Weibo, is currently very interested in the strong development of Chinese esports. Moreover, this social networking site belongs to Sina Corporation – a corporation closely related to Taobao Software, so the transfer is also very convenient.

In the case of a franchise, the name Suning will be removed from the LPL, replaced by the name of the new owner. However, this issue also won’t affect the team’s staff, players, and development strategies.

Even so, many opinions even said that joining Weibo would be a big step for SofM’s team and teammates. Because Suning was once rich, but Weibo is now … richer. With 30% of the Chinese population using Weibo, this is the largest social media site in this billion-population country, and with it a rich source of financial resources will help the Esports team comfortably spend money on the transfer market.

However, it should be emphasized that recently, Suning has also released a new shirt for the LPL Spring 2021 season. This also means that if a transfer occurs, perhaps it will also have to go to the Summer tournament. Now, Suning has officially “changed owner”. Previously, SofM’s Snake Esports team also went through a similar journey, when we had to wait until Spring 2019 to be able to change its name to LNG Esports.

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