The EU LCS spot held by Misfits Academy has been sold to esports organization Mysterious Monkeys. The news was announced by German company ad hoc gaming GmbH, who own the team, in an announcement on their website, while Misfits confirmed the sale on Twitter.

Neither party has disclosed the amount paid for the spot. The tweet from Misfits said that an official announcement would be forthcoming today.

Riot Games' regulations prohibit an organization from owning multiple spots in any of League of Legends' top-level competitive leagues, and Misfits, who already hold a spot in the EU LCS, were obliged to sell the spot as a result.

Misfits Academy earned the LCS berth with a 3-2 win over Fnatic Academy at the 2017 EU LCS Summer Promotion tournament.

“When we started the process of selling the team, we spoke with many interested parties but ultimately Mysterious Monkeys presented the most compelling overall offer, which included the intent to keep the team together as best they could," Misfits CEO Ben Spoont said in a press release.

In the same press release, Misfits CGO Joe Elouassi stated that Mysterious Monkeys' offer was the "most lucrative" Misfits received.

Fnatic also holds an extra spot in the EU LCS, as Fnatic Academy earned a promotion to the EU LCS with their 3-0 elimination of Giants Gaming.

theScore esports has reached out to ad hoc gaming GmbH for further comment on the purchase.

Josh "Gauntlet" Bury is a news editor for theScore esports. You can find him on Twitter.