Sources: eUnited Closed, Only CEO Remains

Photo by Robert Linder on Unsplash

The Esports Advocate has learned from multiple sources that eUnited no longer has employees or players left to run day-to-day operations or compete in esports and is therefore closed. As far as we know the only remaining employee is CEO and founder Adam Stein, as of this writing (TEA has reached out to Stein for comment/confirmation).

According to a source familiar with the situation speaking on background, the last employee to exit eUnited was Matthew “Burns” Potthoff, who announced on Dec. 31, that “it was his last day at eUnited.” Potthoff—who declined to comment on this story—spent more than six years in the role of general manager and VP of esports, both acquiring and managing talent, mentoring players, and helping the organization win multiple championships during his tenure.

Along with Potthoff, Social Media Manager Connor Langdon, Graphic Designer Isaac Waller, and Videographer Luis Ortiz were let go at the end of December—they were the last remaining employees at the company from what we have been told.

From the end of August to early-September, the company also quietly laid off a number of employees—eUnited never filled many of these eliminated roles.

At the end of 2022, all remaining players were also let go, according to one source. eUnited competed in a number of professional leagues in 2022 including Gears of War Pro League, Halo Championship Series, and Rocket League Championship Series.

TEA reached out to a number of former employees who either declined to comment for fear of reprisal or because speaking publicly could affect their active searches for new employment. It should also be noted that employees who signed employment contracts with the organization also had to sign a non-disclosure agreement.

It is unclear what the company’s next move is at this point, but one would assume that owners and investors would be entertaining a sale of assets, seeking new investments, or filing for bankruptcy. We can not independently confirm what actions the company will take.

eUnited was founded in 2016 by Adam Stein—also a founding partner of Encino, California-based real estate firm M&A Real Estate Partners and a former Yahoo! Executive—and James Daquino—who currently holds an executive role at Creative Arts Agency. Daquino is listed as an “Investor/Founder” of the company on his LinkedIn profile.

There’s no doubt that the Encino-based esports organization has received funding over its more than six-and-a-half-year history, but if any rounds did occur they were never publicly disclosed.  There were also several instances when it looked like eUnited would either be acquired or go public: In June of 2020, eUnited signed a merger agreement with Toronto Stock Exchange Venture Exchange (TSXV)-listed mobile entertainment company Backstageplay. By November 2020, both companies mutually agreed to terminate that agreement.

In September 2019, real estate investor and President of the Zieben Group Lee Zieben expressed some interest in purchasing eUnited. However, a deal never materialized. Zieben was also allegedly interested in purchasing the Overwatch League’s Houston Outlaws, but ultimately the Beasley Media Group purchased the team from Immortals Gaming Club for an undisclosed amount.