Sources: Real Estate Investor Buys OWL Houston Outlaws For $40M
Houston real estate investor Lee Zieben has "agreed to terms with Immortals Gaming Club to purchase" the Overwatch League Houston Outlaws for a "total deal value" of $40M, according to sources cited by Jacob Wolf of ESPN. The deal is "expected to close in late August." Sources said that Zieben will pay $30M in "cash and securities" and assume the $10M debt in "remaining payments" to the OWL for the Outlaws franchise. Immortals is selling the team after they "acquired Infinite Esports & Entertainment, the parent of OpTic Gaming and the Outlaws," and will "retain their ownership of OpTic." With the acquisition of Infinite, the OWL "required Immortals to sell the Outlaws to a third party as quickly as possible, due to Immortals' ownership" of the OWL L.A. Valiant (ESPN.com, 7/31).
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