Now officially, the esports organization Ninjas in Pajamas and the Chinese club Victory Five (ESV5) have completed the merger. The union between the two companies came about through a share swap and will finally lead to the return of the NiP brand to Lol Esports.
According to the Twitter post, the closing of the agreement means that the NIP Group is officially formed and the organization now considers itself “the first truly global esports organization.”
The Victory Five team will compete under the NIP name in the League of Legends Pro League (LPL), while the team will remain the same and will continue to be run by the same staff that brought Victory Five’s stellar results in 2022. The first game of the new team’s upcoming competition will take place on Saturday when the LPL kicks off the 2023 spring split.
The two companies announced the completion of the merger on Tuesday, although financial terms of the deal were not disclosed. The merger will help NIP enter the Chinese esports market and the League of Legends scene.
The first truly global esports organization! The merger of NIP and ESV5 is finally complete and the NIP group has been created. The former Victory Five roster will play for the Ninjas from 2023 and the roster will be managed by the same team that delivered stellar results for the Victory Five in 2022. pic.twitter.com/UQlOgyjAM8
— Pajama Ninja (@NIP) January 10, 2023
Source: Tutto Mercato Web
