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- Real estate investor Lee Zieben has agreed to acquire the Overwatch League’s Houston Outlaws for $40M USD, sources tell ESPN.
- The deal is pending approval from the league, and is expected to close in late August.
- Immortals Gaming Club acquired the Outlaws in June as part of the Infinite Esports & Entertainment deal, but must sell the franchise as it already owns the league’s Los Angeles Valiant.
The Overwatch League’s Houston Outlaws has found a buyer, reports ESPN, with Houston real estate investor Lee Zieben reportedly set to pay $40M for the franchise.
According to the report, Zieben will pay $30M in cash and securities, as well as take on the remaining $10M (of $20M) debt still owed to Activision Blizzard for the league spot. Zieben reportedly has a binding letter of intent with current Outlaws owner Immortals Gaming Club, but league approval is pending. If all goes well, the deal could close in late August.
Immortals acquired the Outlaws in June as part of its $100M purchase of Infinite Esports & Entertainment, which also includes OpTic Gaming. Immortals already owns the Overwatch League’s Los Angeles Valiant, however, and a single company cannot hold more than one franchise in the league.
Related Article: Overwatch League Home Market Plans for 2020 Revealed
The league allowed Immortals to complete the acquisition with the condition that it maintained the Outlaws as a separate entity within the organization while it sought a buyer, and that the league would have operational oversight during that time.
All 20 Overwatch League teams will host home matches in their own respective markets during the 2020 season, with each team hosting at last two homestand weekend events featuring several teams. There will be 52 total homestand events during the 2020 season, with matches happening every weekend instead of following the current multi-stage format with breaks in between.
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