Astralis reportedly looking to sell the organization and its Counter-Strike division

27 Apr

Thales Costa

The once-dominant Danish esports organization Astralis is actively seeking to sell its brand, intellectual property rights, and Counter-Strike division, as per a report by Dust2.dk. This news comes as the legendary organization faces mounting financial pressure and continued competitive struggles in the CS2 scene.

Sale Details and Potential Buyers

According to the report, the Astralis brand is valued between 13 and 20 million Danish kroner (approximately $2-3 million USD). This represents a staggering decline in value compared to when Astralis went public in 2019 with a valuation of 508 million DKK - a nearly 97% drop over five to six years.

Jonas "calc" Gundersen, former Chief Operating Officer of Ninjas in Pyjamas, has emerged as an interested buyer. After leaving NIP in 2024, Gundersen founded Continuum X Group, which invests in promising esports projects. However, it still remains unclear whether he has already made a formal bid or faces competition from other potential buyers.

Financial Struggles and Competitive Decline

The sale exploration follows Astralis' failure to qualify for the BLAST.tv Austin Major in mid-April, marking their fifth consecutive Major absence. CS2 insider Aleksey "OverDrive" Biryukov recently claimed that Astralis was "on the verge of bankruptcy" and would either shut down or be sold to new owners.

Despite their struggles, Astralis continues to invest heavily in Counter-Strike. The organization reportedly spent $2 million just to acquire Martin "stavn" Lund and Jakob "jabbi" Nygaard from HEROIC in 2024. Astralis missed out on approximately $3-4 million by failing to secure stickers for three consecutive Majors.

In 2024, Astralis participated in 13 Counter-Strike 2 tournaments, earning $313,500 in prize money. Their best performances were third-fourth place finishes at several events, but these were overshadowed by disappointing results at major tournaments.

Fall of a Dynasty

The potential sale marks a dramatic turn for an organization that once dominated the Counter-

Strike world. Between 2017 and 2019, Astralis claimed four Major championships and established an era of unprecedented dominance in CS:GO. Of their legendary lineup, only Nicolai "dev1ce" Reedtz remains with the team.

Astralis sold their League of Legends EMEA Championship (LEC) spot to AK-Game SAS for $23 million in 2023, which may have temporarily sustained their Counter-Strike operations. However, the continued competitive failures and lack of Major qualification have severely impacted their financial outlook.

Looking Ahead

Despite the uncertainty surrounding their future, Astralis is preparing to compete at PGL Astana, which begins on May 10th. The team will feature Rasmus "HooXi" Nielsen as a stand-in following the departure of Casper "cadiaN" Møller and Sports Director Kasper Straube.

If a sale is completed, it could provide Astralis with a fresh start under new leadership. A change in ownership may bring different development strategies, renewed investment, and potentially a roster overhaul aimed at returning the organization to competitive relevance.

Featured image credits: PGL

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