neL: FunPlus Phoenix acquired Heroic for 1,6-1,8 million dollars

According to insider Guillaume "neL" Canelo, FunPlus Phoenix paid about $1.6-1.8 million for Heroic roster. To date, the Chinese organization has not officially announced its participation in CS:GO, but confirmed participation in the first season of Flashpoint, which will run from March 13 to April 19 in Los Angeles.

As far as I'm aware, FunPlus Phoenix bought the Heroic players for around 1.6/1.8M$.
Sources also told me that they also didn't have to pay for the first year of FLASHPOINT and that they can leave if they don't like what they see after a year, or pay if they like.

— neL (@neLendirekt) March 12, 2020

The FunPlus Phoenix organization was founded in 2017 and is based in Beijing. It is primarily known for its line-up of League of Legends, which won the World Champions 2019, the largest tournament of the last year.

The current Heroic roster was among the top 15 best teams in the world throughout 2019. This year the Danes perform less successfully: at ICE Challenge they finished in 7th-8th place, and also could not qualify for Europe Minor, losing in the closed qualification of Heretics and Copenhagen Flames.