The Singaporean organization Titan is ceasing all operations, Damien Grust, CEO and founder, has just revealed via the team's website.
Titan have been in the esport waters since September 2013, and since have been home to some of the world's most renowned players and teams in numerous games, including Quake, Dota 2, SMITE and, CS:GO, among others.
The CS:GO team around Kévin "Ex6TenZ" Droolans has been part of the organisation since January 2014, when the ex-VeryGames squad joined after having been left out to dry by their long-time organization.
KQLY's VAC ban shook Titan's structure for 2015, according to Grust
Now the team is without professional backing once more, as Titan have announced their shutdown due to financial issues. According to the announcement, "sponsors and partners backed out of deals for 2015" after having learned that Hovik "KQLY" Tovmassian received a ban for all professional competitions.
During their time in Titan, various iterations of the lineup brought numerous top three finishes into the organisation, including silver medals at ASUS ROG Winter, Inferno Online Challenge Pantamera, and ESL Pro League Winter 2014/2015 finals in 2015.
"Sponsors and partners with whom we were about to sign, understandably backed out of deals, not wanting to be associated with a company that had just been tarnished. Needless to say, our budget for 2015 had gone up in smoke from one day to another." explains CEO Damien Grust in a statement.
"This means that as of today, Titan is ceasing operations and releasing all current players and staff into this beautiful esports wilderness. Our CS:GO team will move on and hopefully find a new home worthy of their loyalty and determination."
Titan boasted the following roster, who are now on the lookout for a new organization:
The team is currently in Minsk, Belarus, waiting for their time to come in the group of death of the SL i-League StarSeries XIV Finals, which also features fnatic, EnVyUs, and Question Mark.