Sentinels beats the broke allegations with $3 million investment from ownership group

The ownership group behind Sentinels seems confident in the future of the brand signaled by its latest sizable cash injection, according to an official press release from the organization today.

An additional $3.4 million has been injected into the company by the Sentinels ownership group, which will “enable Sentinels to continue to conduct usual operations and expand to new esports endeavors.” On the Sentinels’ StartEngine page, where over $150,000 in crowd-funded investments has been raised, the company says it hopes the injection will also “provide peace of mind to the fans that Sentinels will not be going anywhere.”

It was Sentinels’ decision to start a StartEngine campaign that drew several sets of eyes to the company’s financials back in early August, most notably the eye-watering $695,000 spent monthly on player, creator, and staff salaries. Sentinels said back when the campaign went live that “additional funds” would still need to be raised regardless of the outcome of the crowdfunding endeavor, and the organization has made several “broke” jokes at its own expense on social media since.

The cash injection announced today will supposedly go a lot further as the organization expects its “burn rate,” as in its monthly spending amount, to go down due to “an industry-wide reduction in player costs.” This past offseason, Sentinels signed VALORANT in-game leader Mouhamed “johnqt” Ouarid and re-signed superstar Tyson “TenZ” Ngo, while also bringing back Jordan “Zellsis” Montemurro as a sixth man.

Speaking of VALORANT, Sentinels is already eyeing its next cash injection, but not one from ownership. In its statement today, the company said it is “poised to benefit from the
introduction of in-game digital content via its flagship title, VALORANT.” According to Riot, team skins for partnered VCT teams are expected to be released sometime in 2024.

Sentinels has recently hosted two showmatches pitting its newly retooled VALORANT roster against G2 and Moist x Shopify. All three teams, plus Challengers team Oxygen, will compete at the Sentinels Invitational event beginning on Nov. 1.