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Houston Outlaws esports team sold for $40 million

Photo by Jamie McInall/Pexels


Houston real estate investor Lee Zieben has agreed to terms with Immortals Gaming Club to purchase the Houston Outlaws for a total deal value of $40 million, sources familiar with the deal told ESPN.

According to an original ESPN report, the deal has not been executed but is expected to close in late August, with Zieben currently having a binding letter of intent with Immortals for the purchase, according to sources. Paperwork submission to and approval of the Overwatch League is pending, league sources said.

If completed as expected, Zieben will pay $30 million in cash and securities and assume the $10 million debt in remaining payments to the Overwatch League for the Houston Outlaws franchise slot, sources said. Immortals declined to comment. Lee Zieben's office and the Overwatch League did not respond to a request for comment.

Immortals will sell the team after they acquired Infinite Esports & Entertainment, the parent of OpTic Gaming and the Outlaws, in June.

Immortals will retain their ownership of OpTic, splitting that team and the Outlaws for the first time. In June, Immortals completed a deal with Activision Blizzard to enter the franchised Call of Duty League that is set to launch in 2020.

Continue reading on ABC13 to learn about the details of the sale.

POINT BLANK PRESENTED BY FITZ ROOFING

AstroTurf war: Your top ideas on what to do with the Dome

The debate about what to do with the Astrodome is nothing new. In fact, Ken Hoffman wrote a piece on CultureMap last week about this exact topic.

If you haven't read it, be sure to check it out here. There were so many comments regarding the article, that we decided to talk about some of the top suggestions we received about what to do with the Astrodome.

ESPN 97.5's Joel Blank weighs in on the most popular ideas in the comment section, which are pretty interesting to say the least. Point Blank is presented by Fitz Roofing.

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