Esports tournament organizer Beyond The Summit has (BTS) closed its doors and let go of all of its staff, according to co-founder David ‘LD’ Gorman.
An era is over as tournament organizer for games like Super Smash Bros. and Dota 2 BTS has announced its closure.
In a statement posted to Twitter, BTS co-founder LD announced that BTS has let go of its staff and will be closing its doors as an esports tournament organizer.
The co-founder said that BTS will keep its full-time staff on its payroll for two weeks, everyone will be offered two weeks of severance and the company will continue to pay for healthcare coverage for its United States-based workers through April.
BTS closes door on esports tournaments after 11 years
In the statement, LD wrote, “based on our current financial outlook, and how challenging the next year looks, we’ve decided that it would be irresponsible to keep BTS going in its current structure. So, after nearly 11 years in business, we’ve made the extremely difficult decision to let all our people go.”
BTS will also complete its current obligations for events it is already set to organize, including Smash Ultimate Summit 6. LD also said in the statement that the company is still “exploring other paths forward, especially ones that allow us to do right by our staff.”
The statement said that the company would rather take these measures now instead of running the company into the ground and potentially not being able to pay any of their staff.
“We don’t want to leave our people out in the cold. We don’t want to leave them with uncertainty, constantly wondering and worrying when the money will run out,” LD said.
BTS was one of the few tournament organizers in esports that was not backed by venture capitalist funding and remained indecently funded during its 11 years of operation. The tournament organizer is just one of many esports companies letting go of staff as organizations try to taper down costs.
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