The brand we’ve come to know as Splyce will cease to exist according to a report out of Dexerto. Richard Lewis published a piece revealing the brands parent company OverActive Media has made the decision to shut down the brand “as part of restructuring.”

According to the report employees affected by the decision were told they could stick around until the official shutdown in December or leave the company now with a severance package.

“The majority of the staff took the payouts so a lot of people left Splyce yesterday,” one source told Lewis.

Splyce has been around since 2015 and built a following across many esports titles before being acquired by OverActive Media in November of 2018 with the exact price being undisclosed. This move closely followed Splyce receiving a spot in the LEC for Riot’s League of Legends.

OverActive Media will continue with its other esports operations including the Toronto Defiant Overwatch League team, newly revealed Call of Duty Toronto team, and League of Legends division. All three games are in franchise models, leaving behind the open circuit games which were all held under the Splyce brand.

It is currently unknown what the future of former Splyce CEO and current Senior Vice President of Team Operations at OverActive Media Marty Strenczewilk is. However, the report does state that one source believes Strenczewik is keeping his options open.

As stated in the original article, this follows a trend in new age esports investors seemingly being unable to manage the properties and having no commitment to the brands as they were originally intended.

The Infinite Esports & Entertainment and OpTic situation is the first to come to mind and will be remembered as one of the biggest blunders in esports. The community loved former OpTic founder and CEO Hector “H3cz” Rodriguez recently revealed he’d joined up with NRG, leaving behind his storied brand.

Related article: