SOOP, an internet broadcasting platform formerly known as AfreecaTV, has officially acquired the women's professional volleyball team, Pepper Savings Bank AI Peppers. This acquisition, confirmed on May 15, 2026, is set to stabilize the league and maintain the existing seven-team structure.
Why it matters: The acquisition prevents the dissolution of the AI Peppers and ensures that the women's volleyball league remains competitive with seven teams. This move is also seen as a step toward enhancing the league's commercial viability.
SOOP announced its intention to acquire the team to the Korea Volleyball Federation (KOVO) on May 15, 2026.
The acquisition will allow the women's professional volleyball league to continue without disbanding, preserving the current seven-team format.
SOOP's entry into the volleyball scene marks a new chapter in the sport's digital engagement and fan interaction.
Driving the news: The acquisition was finalized after SOOP reached an agreement with KOVO on the previously contentious membership fee and volleyball development fund issues. The resolution came after prolonged negotiations.
KOVO initially demanded approximately 2 billion won (around $1.5 million) as a membership fee for new teams, which SOOP initially resisted.
After extensive discussions, both parties reached a compromise, facilitating SOOP's entry into the league.
KOVO plans to convene an extraordinary board meeting next week to finalize SOOP's membership approval.
State of play: With the acquisition process nearing completion, SOOP is set to inherit the existing roster of the Pepper Savings Bank team.
Players from the Pepper Savings Bank team will be retained, avoiding the disruption of a secondary draft that could have scattered them across different teams.
There is uncertainty surrounding the employment of the coaching staff and administrative personnel, whose contracts expired on April 30, 2026.
Pepper Savings Bank officials indicated plans to request the retention of the coaching staff within the new organization.
The big picture: The acquisition is not just about maintaining a team; it's also about SOOP's broader strategy to integrate digital content with sports.
SOOP, which has transitioned from AfreecaTV, aims to leverage its expertise in esports and live streaming to innovate the way volleyball is presented to fans.
By collaborating with other volleyball teams like Woori Card and GS Caltex, SOOP is establishing a strong presence in the volleyball community.
This strategic acquisition could redefine the relationship between sports teams and their audiences, particularly through enhanced digital engagement.
What they're saying: Officials from both SOOP and KOVO have expressed optimism about the acquisition.
"We are excited about the opportunity to revitalize the team and engage with fans in new ways," a SOOP representative stated.
KOVO officials noted, "This acquisition is a positive development for the league, ensuring its stability and growth potential."
By the numbers: Key financial details have emerged from the negotiations surrounding the acquisition.
The agreed membership fee is around 2 billion won, a figure that reflects the financial stakes involved in maintaining a competitive league.
The Pepper Savings Bank team was originally established in September 2021 as the seventh team in the league.
The team's financial struggles led to the decision to seek a buyer, highlighting the challenges faced by professional sports teams in South Korea.
What's next: As the acquisition moves forward, several key actions are anticipated.
KOVO will hold an extraordinary board meeting to finalize SOOP's membership, expected to occur next week.
Following the approval, SOOP will begin discussions with Gwangju City to renew the home base agreement, which expired on May 12, 2026.
Plans for the retention of the coaching staff and administrative personnel will be addressed as part of the transition process.
In light of the recent developments, the future of the Pepper Savings Bank AI Peppers appears promising, with SOOP committed to ensuring the team's legacy and enhancing its role in the league.