CNJ will no longer continue the acquisition of Saigon Buffalo
After announcing that Saigon Buffalo would be acquired a few months ago, CNJ Esports have made the decision not to proceed with the acquisition.
Juego – CNJ and Saigon Buffalo acquisition fails
Following the end of the 2022 League of Legends World Championship, Saigon Buffalo was looking for a potential buyer and attract new investors to continue competing in the Vietnam Championship Series. Being one of the strongest teams the VCS has in the league, CNJ esports expressed their intention of acquiring Saigon Buffalo shortly after. The two parties began the process to complete the procedures for the transition.
This was until Feb. 9, 2023, when JUEGO, the company behind CNJ Esports, announced that the acquisition of Saigon Buffalo will no longer proceed. They mention that after handling all the various tasks, including the signing of team members, coaches, as well as investing in facilities, and a parternship with a Korean esports company, a problem occured.
The problem greatly compromised the acquisition process and damaged both parties in promoting their business. After discussing with Saigon Buffalo, JUEGO decided to cancel the acquisition process, and transfered the coaching staff, players and employees back.
Confirmed by Saigon Buffalo, the organization will continue to compete in the VCS going into 2023.