Sources: OpTic Gaming Finalizes Investment With Group Led By MLB Rangers Co-Owner
OpTic Gaming has "finalized an investment deal" with a group led by MLB Rangers co-Owner Neil Leibman, according to sources cited by Jacob Wolf of ESPN.com. As a result, the team "acquired the Overwatch League slot in Houston -- where Leibman is based" -- for $20M paid over time. Sources said that OpTic has also "expanded its reach by applying for a spot in the North American League of Legends Championship Series and has advanced to Phase 2 of the application process." Leibman is the second Rangers co-Owner to invest in an esports team and "pursue a slot in the Overwatch League." In August, Rangers board member Kenneth Hersh reportedly invested $35M into Team EnVyUs and obtained rights to an Overwatch League slot in Dallas. Chaney Sports Group "advised on the Leibman deal." Sources said that Overwatch developer Blizzard Entertainment "sought other options for the league" -- including the Rockets -- but "was turned down." Should OpTic be accepted into the LCS, it will have to pay $13M in franchising fees for a "permanent spot in the league" (ESPN.com, 9/12).