NCsoft gets final approval as expansion team owner

NCsoft, a local online-game company, received its final stamp of approval Tuesday to launch a new professional baseball team in Korea.

The Korea Baseball Organization (KBO) announced that NCsoft received the required support from the league’s eight existing teams.

The company needed two-thirds of the owners’ support and the league office said seven of the eight owners approved the expansion.

After the company received the go-ahead from team presidents last week, getting owners’ approval was considered a mere formality.

The new team will be based in Changwon, South Gyeongsang, about 400 kilometers (248 miles) southeast of Seoul and could join the KBO as early as 2013.

It will be the league’s first expansion since 1991.

NCsoft will have to pay 5 billion won ($4.5 million) in league entry fees, which will be contributed to the league development fund. The KBO said the fees must be paid within 30 days of the owners’ approval.

NCsoft will have to build a new stadium with at least a 25,000 seating capacity before early 2016, the KBO added, or it won’t receive back a 10 billion won deposit.

The KBO wants to have 10 teams by 2014 so the league can opt for two divisions of five teams each.

NCsoft will hold a press conference in Changwon on Thursday to formally announce its KBO membership.

Yonhap