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Team Bondi Sleeps with the Fishes, Sells Assets and IPs

August 9, 2011 Written by Sebastian Moss

With L.A. Noire shipping an impressive 4 million, you’d think that developer Team Bondi would be celebrating their astounding success. Unfortunately, it seems that the exact opposite is true, and Team Bondi have sold off all their assets due to financial problems.

Luckily, the developer’s staff won’t lose their jobs outright – they will be given a choice of a new job at Kennedy Miller Mitchell or, simply, severance pay. According to Develop, a source claims that game IP and other assets have been sold to KMM. The IP for L.A. Noire, however, will not be included in the sale, as Rockstar owns the rights, rather than Team Bondi.

Brendan McNamara, the studio’s boss, was allegedly closely involved in the company’s poor business practices and mistreatment of company staff, may also be moving to KMM. Where this leaves Team Bondi is unknown, although without McNamara its unlikely the company will stay open. Despite rumors, there are no official filings to suggest that they have gone into administration, or declared bankruptcy, but it can take up to 28 days for such documents to be public in Australia.