Bookmaker Parimatch and Russian esports organisation Team Spirit have terminated their partnership early following the betting company’s withdrawal from Russian markets.
The termination of the agreement is largely due to Russia’s invasion of Ukraine. The companies recently extended their partnership in January.
Stepan Shulga, Head of Esports at Parimatch Tech, commented on the decision: “We have no mutual claims because all agreement terms were fulfilled throughout the partnership. But, given the difficulties of operating during the war, we consider this solution the only one possible.”
According to an announcement by Team Spirit, the early termination was a mutual decision.
Founded in Kyiv, Ukraine, Parimatch has said it has ‘paused’ its esports development plans, with the company instead focusing resources on supporting Ukraine in the war.
The company made the decision to close its Russian operations in February following Russia’s invasion. This also includes its Parimatch Tech platform, which provided technology solutions to operators in the country.
The news comes after Team Spirit relocated its office from Russia to Belgrade, Serbia. The organisation also noted that it will abandon plans to expand its infrastructure in Moscow for the foreseeable future.
Regarding the Parimatch announcement, Nikita Chukalin, Team Spirit’s CEO, stated: “Parimatch was an honest and reliable partner with who we found a mutual understanding in all situations.
“We are grateful to them for the three years of fruitful work, and this forced separation certainly does not give any pleasure to us. However, we understand the current situation and we part without mutual claims.”
Following Russia’s invasion of Ukraine, multiple esports entities have halted or limited operations in Russia or with Russian organisations. This includes the likes of ESL, BLAST and WePlay Holding, among others.