After announcing a merger of the two organizations in September and securing a spot in the Brazilian League of Legends Championship (CBLoL) franchise in October, Falkol Esports and Prodigy Esports announced the new banner that will unite the teams: Vorax.
The new legal entity will be established on Jan. 1, 2021, having Prodigy’s Marina Leite, Falkol’s Aristóteles ‘Toti’ Azevedo, and Vivian Bernardo as associates. This is the second brand renovation for Prodigy Esports in one year, as before November 2019 it was called ProGaming due to its founder and main sponsor ProGaming Megastore. To date, ProGaming Megastore is the only sponsor confirmed to Vorax.
Marina Leite spoke to The Esports Observer regarding the finances and the resources to be applied to the new organization and the CBLoL franchise. According to her, “since the merger between Falkol and Prodigy, the movement in the market has been extremely positive. We are already in the process of contractual detailing with sponsors,” and “with the funds of these actions, the project that we idealized, of having a competitive and powerful organization in the market and electronic sports, will be accomplished.”
Regarding the CBLoL franchisee buy-in, which rests at $4M BRL (roughly $740K USD), Leite said that the organizations have the necessary resources to cover it, and that “Prodigy has always been a sustainable and profitable sports organization, while Falkol has always been a pioneer in negotiations that bring financial resources from commercial agreements to the club.”
Leite also explained that “although initially the applications [to the franchise] were made individually by each organization, Toti and I were already talking and adjusting a commercial agreement since the beginning of 2020, so they were made individually only because our commercial agreement was not finalized. But the idea since the beginning was for each part to invest its planned share [for the franchise fee] in our investment agreement.”
Leite is confident in the financial projections made by the organization, saying that it was “carefully planned to bring profit in the first years of operation.”
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