The scandal surrounding the MMORPG Ashes of Creation continues to grow in new details. The founder of Intrepid Studios, Stephen Sharif, released a statement in which he publicly confirmed for the first time: Riot Games studio, known for League of Legends, was ready to buy out the project for an amount in the range of 250 to 500 million dollars. Negotiations were underway, but the deal fell through — and the blame for this, according to Sharif, was the actions of a group of investors, TFE Games Holdings.
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Riot Games was willing to pay up to 500 million
Information about the proposal from Riot Games appeared in published documents that previously remained classified. The amount appearing in the papers is from 250 to 500 million dollars (approximately from 20 to 40 billion rubles). According to Sharif, the deal was actively blocked by representatives of TFE Games Holdings, led by Robert Dawson. According to the developer, they “dissuaded” him from merging, pursuing their own interests.
What exactly motivated the investors is an open question. But the context looks alarming. After all, there is a parallel litigation between Sharif and the same group of investors. By the way, the proceedings are no longer conducted “behind closed doors,” so some of the materials have become public. And it changes a lot.
“Let’s fight like the devil”
Stephen Sharif himself is determined. In a lengthy address to the community, he apologized to the players for the situation, but made it clear that no one was planning to give up. “I’ve attracted people who have expressed a desire to help,” he wrote. “I didn’t know that they would try to destroy Ashes and take it for themselves.”
The phrase that has already spread across social media is: “Let’s fight like the devil.” Sharif promised that the project will reach those who have been waiting for it for years. Intrepid Studio, even if it is currently in limbo, will continue to fight. Whether this will be enough against the background of a high—profile scandal is a question that has not yet been answered.
Why the deal with Riot Games was important?
For Ashes of Creation, collaboration with Riot Games could be a lifeline. The MMORPG, which claims to revive the genre, has faced a wave of criticism and accusations of the failure of ambitious plans. The support of a Riot-level giant would have removed many questions about both financing and timing. But now the project remains one-on-one with investors, whom the founder accuses of attempting a raider takeover.
Judging by the tone of the statement, Sharif does not intend to concede. However, the players react in different ways: some support the developer, others require specifics and transparency. The end of this story has not yet been set.
The Phantom Board of Directors: what Sharif has been hiding since 2017
Since the launch of the Ashes of Creation campaign in 2017, Stephen Sharif has never tired of repeating: there is no board of directors above him. He is the sole leader, and all decisions are his and his alone. It sounded convincing. It wasn’t until the clouds began to gather around the MMORPG that some “board decisions” surfaced, which, according to Sharif, did not exist in nature. The players quickly noticed the discrepancy. They can be understood.
Now the founder of Intrepid Studios explains this paradox simply: until 2024, he really managed the project with his husband and another employee. Full power belonged to the three of them. And then investors appeared. And with them, the right to vote, which previously outsiders did not have. It was these people, according to Sharif, who planned to seize control of the studio. Why wasn’t the community told about this right away? The developer refers to the “consequences” — they say, he was afraid of a reaction from Robert Dawson and the rest of the shareholders. It’s a curious moment.
An important legal nuance: formally, the rights to Ashes of Creation and the assets of Intrepid Studios belong to TFE Games Holdings. But it’s impossible to manage them right now. The legal dispute, which is still far from over, is getting in the way. The parties are stuck in earnest and for a long time.
And even if we imagine an optimistic scenario — the court will side with Sharif — the main question remains: will the players return? Many have already issued refunds for early access and are unlikely to want to risk their money again. And without a community, any, even the most ambitious MMORPG, is doomed.
