Immortals Esports Org Sells Overwatch League Franchise to Beasley Media Group

Overwatch League Grand Finals - Day 2 at Barclays Center on July 28, 2018 - Getty -H 2019
Bryan Bedder/Getty Images for Blizzard Entertainment

The organization still owns another team in the gaming league, the Los Angeles Valiant.

Esports organization Immortals Gaming Club (IGC), which includes investors such as Griffin Gaming Partners' Peter Levin and Memphis Grizzlies co-owner Steve Kaplan, has sold one of its Overwatch League franchises, the Houston Outlaws, to Beasley Media Group, a subsidiary of Beasley Broadcast Group, Inc., which owns a number of radio stations nationwide. IGC still owns another franchise in the Overwatch League, the Los Angeles Valiant.

IGC CEO Ari Segal said he is "thrilled to welcome Beasley Media Group ... to the Overwatch League," adding, “They have exciting plans to deepen the already strong connection between the Outlaws and the local Houston market and represent the ideal strategic owner for this asset."

IGC declined to disclose financial specifics on the deal when contacted by The Hollywood Reporter. An ESPN report from 2018 claimed that the price for franchise slots in the Overwatch League for the 2019 season ranged from $30 million to $60 million.

Beasley has made other moves into esports in recent months, investing in organization Team Renegades — which fields teams in games such as Rocket League, Super Smash Bros. and the Overwatch League — in April and acquiring weekly syndicated esports lifestyle radio show CheckpointXP last fall. 

“The acquisition of the Houston Outlaws significantly expands our growing esports platform," said Beasley CEO Caroline Beasley. "Our growing esports infrastructure and management combined with our experience with team Renegades, success in hosting and promoting large events and our national esports content hub — BeasleyXP — are key factors in our expectations for long-term returns from this investment. We look forward to initial contributions from this exciting development when the league’s third season begins in February."

Esports continues to be a growing industry, with market research firm Newzoo forecasting that the sector will, for the first time ever, top $1 billion in revenue this year.