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Addressing rumors of financial crisis, Crytek says it is now on solid footing

Owen S. Good is a longtime veteran of video games writing, well known for his coverage of sports and racing games.

Crytek, whose financial health recently has been the subject of rumors of unpaid workers and the departures of key developers, has issued a statement broadly asserting the company is on solid financial footing following a turbulent change in corporate focus.

"Our evolution from a development studio to an online publisher has required us to refocus our strategies," the company said in a statement provided to Polygon. "These challenges go along with an increased demand for capital, which we have secured."

Crytek acknowledged that "the flow of information to employees has not been as good as it should have," but chalked that up to being unable to publicly discuss plans that were in the works.

Earlier published reports, citing anonymous sources within Crytek, spoke of missed payroll, mass holdouts by unpaid employees, and key staff walking out the door.

Crytek, which will co-publish Homefront: The Revolution with Deep Silver in 2015, is moving away from the traditional development for which it has become well known and toward self-published free-to-play titles like Warface.

"Ultimately, with our organization, capitalization, portfolio and technologies, we have now laid the foundations for securing Crytek's future — not just in the short term, but also long term," the statement said. "We are confident that we will be able to share more positive news on Crytek's progress soon."

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