Star Citizen developer denies any financial difficulty rumours

3 min read
13

nothing-to-see-here

One day the sun will burn out, its last remaining reserves of gasses spent just before the Andromeda galaxy collides with the Milky Way while the gravitational pull of space separates our cluster of the cosmos further and further away from other galaxies. All of that will happen, while Star Citizen remains in development limbo as fans plague comment sections with referral links to buy digital property within the current structure of what’s available in the game.

That might be a slight exaggeration as to the current status of developer Cloud Imperium Games and their current status of ever finishing Star Citizen. Thing is, you can’t make a game without a steady flow of income and when news broke that the developer had secured a sizable loan from UK banking institution Coutts, fans began to panic over a perceived financial crisis at the studio.

Standing in front of the fireworks display factory that is the Star Citizen forum, co-founder Ortwin Freyermuth wrote about how everything was just fine as the loan from Coutts allows Cloud Imperium to get an advance on a tax rebate while also avoiding any messy business with currency conversions. “Our UK companies are entitled to a Government Game tax credit rebate which we earn every month on [Star Citizen’s single-player campaign] Squadron 42 development,” Freyermuth wrote.

These rebates are payable by the UK Government in the fall of the next following year when we file our tax returns. [We] have elected to partner with Coutts, a highly regarded, very selective, and specialised UK banking institution, to obtain a regular advance against this rebate, which will allow us to avoid converting unnecessarily other currencies into GBP.

We obviously incur a significant part of our expenditures in GBP while our collections are mostly in USD and EUR,” he continued. “Given today’s low interest rates versus the ongoing and uncertain currency fluctuations, this is simply a smart money management move, which we implemented upon recommendation of our financial advisors.

There’s more to it of course, but seeing as how I just blew my entire salary on a collection of those weird plastic sticky toys you get from Pick ‘n Pay as part of my latest short-term get-rich-quick investment scheme, I’m not exactly qualified to speculate further on the matter. If you’ve just woken up from a coma that was the result of attending Konami’s 2010 E3 press conference, then here’s the skinny on Star Citizen:

Read  National esports - The dilemma local esports will need to deal with eventually

It’s been in development for a while, managed to raise over $150 million from crowdfunding alone and some parts of the game are playable, although who knows when it’ll one day be released as a complete package. Those years in the wilderness haven’t been kind to Star Citizen, as Kotaku’s recent features painted a grim picture about the state of that project last year.

Last Updated: June 27, 2017

Darryn Bonthuys

Something wrong gentlemen? You come here prepared to read the words of a madman, and instead found a lunatic obsessed with comics, Batman and Raul Julia’s M Bison performance in the 1994 Street Fighter movie? Fine! Keep your bio! In fact, now might be a good time to pray to it!

  • Viper_ZA

    Anyone playing this?

    • Spathi

      I’m a backer, but haven’t really been playing. A big patch is dropping in August, quite considerably expanding what is playable currently, so I might then download a play a bit. What I have played so far is awesome though!

      • Viper_ZA

        Cool, how is the ping / latency though? I have been interested in this for quite some time 🙂

        • Spathi

          I haven’t checked my latency, but there is no noticeable lag. I expect my latency to be between 200 and 300 though. Because its not a twitch shooter, I don’t think it has that a great impact on the gameplay.

          In my eyes, $60 (or $45 when I backed) it is a no brainer. I’m following development of the game closely and yes, they have been taking their time and there has been various delays, but when everything is taken into context, they are making huge strides in development at a fair pace. That being said, there is really no rush to back the game. If you are sceptical, there is no harm in waiting.

          My advice would be to wait at least until 3.0 is released (August, hopefully) and then consider backing from thereon. It will be more of a “game” then.

          • Viper_ZA

            Awesome thanks, will await the next release and take it from there.

  • Original Heretic

    Speaking of Star Citizen, I hear that Half-Life 3 has been confirmed.

  • Chuckles von Clausewitz III

    lol, vapourware!

    • Hammersteyn

      I bet if you question him carefully he’ll deny their making a game.

    • Spathi

      lol

  • Hammersteyn

    Of course not, you can probably make 10 Star Citizens with $150 million

  • Joe_Blober

    This all drama story is coming directly from a twiter message from the other psychotic clown we do not name. As usual, he tried to create as much as possible trouble against his beloved ennemy CR, hence SC Community.

    This deceptive action have been deciphered in hours.

    In fact, there is nothing to say except this is another failed attempt to soil this project. Business as usual.

    PressStart which was the first site to copy/paste the twitt, removed their article at once and publicly apologise, other site like this one have done their homework and discover there is nothing much to say.

    Case closed….. and we are now closer from SC 3.0 patch release and Gamescom in August!! 🙂

  • Lu

Check Also

Destiny 2 is bringing along the festive season with The Dawning

The festive season is coming to Destiny 2 next week, and it's bringing along a bunch of ne…