10 August, 2017
The second franchise being added to the Overwatch League is owned by Kroenke Sports & Entertainment, which is the parent company behind United Kingdom football team Arsenal, NFL team L.A Rams and the Denver Nuggets, which is an National Basketball Association team. This brings the city its second team as well.
"This means we now have representation in Europe, North America, and Asia", Pete Vlastelica, the President and CEO Major League Gaming, an Activision Blizzard subsidiary that operates the league, told Sports Business Daily.
Season one of the Overwatch League is expected to get underway later this year.
"Building communities around the best competitive experiences in the world is incredibly rewarding, and the Overwatch League offers the chance to create something special", KSE Esports co-founder Josh Kroenke said. The buy-in for both teams will be $20million, in line with the fee for other teams that have already joined. "We're thrilled to be bringing together more leaders from esports like Jack of Cloud9 and traditional sports like Stan and Josh of the LA Rams, Arsenal Football Club, Denver Nuggets and Colorado Avalanche, to create an unbelievable competition that celebrates and rewards players and fans in London, Los Angeles, and beyond".
"Cloud9 still continues to be profitable, and as far as my investors are concerned, they're convinced that the Overwatch League is going to do well", Cloud9 CEO Jack Etienne told ESPN. Overwatch League teams will earn equal shares of league-wide net revenues, but will also keep the majority of local revenues earned through licensing, sponsorships, merchandising, and so forth.