One of the esports industry’s most beloved event organizers is calling it quits after 11 years—or is at least downsizing massively. Beyond the Summit confirmed today that it is letting go of all full-time staff.
This news comes from BTS co-founder David “LD” Gorman, who revealed that the company’s financial situation reached a point where it no longer made sense to keep moving forward as is since it could potentially harm the people working behind the scenes.
According to LD, BTS leadership was aware that 2023 was going to be a tough year and the team was focused on trying to build out business deals to ensure the company could be sustainable moving forward. But the “esports winter” hit hard and burning the candle at both ends finally caught up with the legendary production crew.
Now, instead of trying to right a sinking ship with the whole crew, leadership is making sure everyone onboard is taken care of first.
“If we keep going, and things don’t improve, we could run the company into the ground and not be able to pay anyone anything. But if we let everyone go now, we can give them advance notice, a headstart to figure out future plans, and good severance offers,” LD said. “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. We care about everyone who has helped build BTS. They have all given so much, and they deserve to know exactly what is happening and have the best possible chance to land on their feet.”
To ensure this transition is as smooth as possible for the talent now joining the increasing workforce laid off from big esports companies, BTS is paying full-time staff for the next two weeks, giving out two weeks severance, keeping up healthcare coverage through the end of April, and publishing a detailed list of résumés and contact information for its employees to help them search for new work.
This isn’t quite the end for BTS just yet, though. The team will still host Super Smash Bros. Ultimate Summit 6 from March 23 to 26, but that could be the finale for the events fans from Smash, Dota, and beyond have come to love over the years.
Related: Valve burns another bridge, Beyond the Summit won’t return as organizer for next Dota Pro Circuit
From two Dota commentators following a dream to hosting some of the biggest tournaments in Smash history, Beyond the Summit has done so much for so many communities. And while BTS leadership is still open to exploring options that will keep the brand from dying out, it truly looks like this recession might take the biggest grassroots and independent production company in esports down.
“Viewers like you are the reason we got to do what we love for the last decade. We wouldn’t be here without you, and we are so very grateful for your support all these years. So thank you. Thank you for trusting us, believing in what we do, and caring enough to tune in. Thank you for being a part of our small sliver of the esports story,” LD said. “BTS came from the community. No matter how much we’ve grown over the years, despite all the trials and tribulations, all the twists and turns, we’ve never forgotten that.”
You can read LD’s full statement on Twitter, and expect to hear more about potential moves for the talented staff over the next several weeks.
And who knows, maybe a last-minute esports miracle will happen. Though even a mogul move might not be enough to keep the mafia rolling.
