x

Immortals adds OpTic parent in historic $100M esports deal

11 months 2 weeks 5 days ago Wednesday, June 12 2019 Jun 12, 2019 June 12, 2019 3:35 PM June 12, 2019 in Sports - AP - Texas

By JAKE SEINER
AP Sports Writer

Immortals Gaming Company has acquired Infinite Esports in what is believed to be the competitive video gaming industry's first $100 million deal.

IGC announced the agreement Wednesday, expanding its stable of esports teams by purchasing the parent company for OpTic Gaming. OpTic's franchises include teams in the League of Legends Championship Series (LCS) and Overwatch League.

It's a move back into League of Legends for IGC, which lost its top-level pro club when publisher Riot Games moved to a franchising model in 2018. The LCS team will retain the OpTic name until rebranding to Immortals in 2020.

IGC already owns an Overwatch franchise, the Los Angeles Valiant. The company says it will manage OpTic's Houston Outlaws on an interim basis, with oversight from the Overwatch League, while trying to sell the franchise to another party.

IGC will also take over OpTic's Call of Duty World League team, but says it will divest its Counterstrike: Global Offensive team. IGC purchased Brazilian CS:GO club MIBR last year.

Infinite Esports' investors included Neil Leibman and Ray Davis, co-owners of baseball's Texas Rangers. They will become shareholders in IGC.

League of Legends publisher Riot Games and Overwatch League operator Activision Blizzard have both approved the sale.

More AP Esports: https://apnews.com/Esports and https://twitter.com/AP_Sports

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More News

Radar
7 Days