Citing financial issues, Forward Gaming announced Monday it has suspended operations just days after securing a spot at The International 9.
Forward Gaming owner and founder David Dashtoyan made the announcement via Twitter.
"With a heavy heart, I regret to announce that Forward Gaming ceases to exist," Dashtoyan said in a statement. "As of today, all employees' contracts are being released and our players become free agents."
Dashtoyan admitted that some player salaries will go unpaid. Salary for July, as well as recent prize money totaling $36,000, will not be paid to players. The statement indicated that the $36,000 in recent prize money was used to cover salary for June.
"Back in June we informed players about the company's state and told them that we might shut down the team right after the Epicenter Major," Dashtoyan said. "However, we decided to wait until the end of TI qualifier in the hope that we would be able to overcome our financial difficulties. Unfortunately, that didn't happen.
"I feel terrible for leaving our guys at the worst moment possible. We tried so hard to provide them with everything we could throughout the year and failed at the very end."
The team's most recent first-place finish came at the Qi Invitational America in April.
The International 19 prize pool is currently more than $30 million with the event slated Aug. 15-25 at Shanghai, China.
-- Field Level Media