It seems Suning Gaming has been acquired by Weibo. On October 2, multiple Chinese media reported that Suning Gaming’s academy building logo has been changed to Weibo, and confirmed the rumor about Suning selling their team. Although it has gone through the media, Weibo hasn’t made any comments.
Suning is China’s biggest household appliances supplier. They’ve run the League of Legends team since 2015, and have been investing widely over multiple areas, such as gaining the right to broadcast the EPL over China and acquiring a Serie A soccer team.
However, Suning started to have financial difficulties since late 2019 due to the pandemic. It is said that their difficulties came from their high dependence on offline stores. Afterward, Suning started to liquidate their sports teams. Their League of Legends team as well, were surrounded with rumors of liquidation from the spring season.
According to Chinese media, the runner up of the 2020 LoL World Championship, Suning Gaming will disappear in history.