Flashpoint owner B Site’s assets for sale

The North American company hosted its last CS tournament in May 2021.

B Site, the founder of the now-defunct Counter-Strike circuit Flashpoint, has instructed a management consulting firm to identify a buyer for the company or its assets, according to documents obtained by HLTV.

Sherwood Partners, which specializes in bankruptcy consulting and shutting down companies, has already begun to reach out to potential interested parties. Sources explained that B Site’s intellectual property assets need to be sold before the company can be dissolved.

B Site’s assets will be sold through a closed bidding process, with an offer deadline of January 23, 2024, 5pm Pacific time. Sherwood will oversee the process and work with the B Site board to select the winning bidder, who will have access to the following assets:

Social Media Handles: Twitch, Twitter, Instagram, Facebook, YouTube
Domain Name: Flashpoint.live
Trademarks: Flash Point Rush Frag Repeat, Flashpoint, Get to the Point, The Blind Spot

B Site founded Flashpoint in 2019 as a new Counter-Strike tournament series, promising to fix the economic issues that had long plagued the game and to put a halt to what it saw as the “immediate threat” of a tournament monopoly run by ESL. Drawing inspiration from WWE and UFC, it planned to set itself apart from its competitors by delivering differentiated content and storytelling to fans.

Cloud9, MIBR, Dignitas, Gen.G, MAD Lions, c0ntact Gaming, Envy and FunPlus Phoenix each invested $2 million to be part of Flashpoint, which offered revenue-sharing opportunities to all members.

But the COVID-19 pandemic threw a wrench in Flashpoint’s plans and made it impossible for the tournament series to deliver on its initial promise. The debut season transitioned to an online format after just one week of matches at the FACEIT studio in Los Angeles because of the global health crisis. The second season was held entirely online in Europe, as was the third (and final) season, which served as a Regional Major Ranking (RMR) event.

In June 2022, Jacob Wolf reported that, while not yet legally defunct, Flashpoint was effectively dead and that the board contained only two members: MIBR parent company Immortals Gaming Club, and Dignitas, who had left CS:GO earlier that month.

Of the eight partner teams that invested a collective $16 million to be part of Flashpoint, only two remain involved in the game: MIBR and Cloud9.