Team Heretics Surpasses Expectations, Doubling Revenue in 2023 Amid Global Expansion

Team Heretics, the known esports club, from Spain has had a year of growth in 2023 surpassing initial expectations and more than doubling its revenue. The clubs founder and CEO Antonio Catena revealed that their earnings skyrocketed from five million euros in 2022 to an eleven million euros year. While the specific details behind this increase remain undisclosed it highlights the clubs strength in the competitive world of esports.

In terms of sports achievements Team Heretics describes 2023 as a “year of learning ” especially as they navigate their season against teams. The club actively participated in tournaments such as the Superliga of League of Legends (LoL) the Legends European Championship (LEC) and Valorant showcasing their commitment to excellence on a level.

Notably Team Heretics expanded its presence into the United States by acquiring a stake in Miami Heretics. This strategic move positions them as co owners in the Call of Duty League (CDL) starting in 2024. Antonio Catena emphasizes their goal of being competitive and aiming for a performance in their debut year within the league.

Despite experiencing a surge in revenue Team Heretics ended the year with a net result due, to significant investments made throughout that period.
The financial plan of the club focuses on achieving an EBITDA, which reflects its stability and resilience.

In the esports scene Team Heretics emerged as champions, in the Iberian Cup of LoL showcasing their dominance. The club generates revenue from three sources; B2B (Business to Business) B2C (Business to Consumer) and activities related to esports. Sponsor management and sponsorship activations are areas in the B2B sector while there is growing interest in B2C with the rise of digital merchandising.

Team Heretics has extended its partnership with Movistar as their partner for 2023. Has also welcomed Hyundai as one of their sponsors. The clubs commercial strategy focuses on both international markets aligning itself with established clubs such as FC Barcelona.

When it comes to expenses the club primarily allocates funds to personnel costs and operating expenses (Opex). A significant portion of their budget goes towards player and staff salaries office spaces in Madrid and Berlin well as maintaining a content house for creators.

Looking ahead to 2024 Team Heretics plans to continue following a path that may involve venturing into a video game. However specific details, about this endeavor remain undisclosed.
Catena, Vidal and Goorgo the creators of Team Heretics, in 2016 still hold the majority ownership of the club. They have been instrumental, in guiding the clubs growth and expanding its reach internationally.

Image by: Team Heretics