Money

Overwatch League Eliminates OverActive Media’s Outstanding Entry Fees

Published by

James Fudge

12 months ago

Publicly-traded esports organization OverActive Media (TSXV: OAM, OTCQB: OAMCF) announced Monday an agreement with Activision Blizzard’s Overwatch League that will eliminate any “outstanding entry fees,” and a sponsorship deal between OWL and Toronto Defiant.

Further, OAM said in its announcement that the new agreement also included an “early payment of league revenue share.” The company said that—including the early payment, the elimination of entry fees, and the sponsorship agreement—the deal is valued at $10.8M CAD, or $8.04M USD. Most of this deal will be recorded in FY 2023.

Additionally, OAM shared that as part of its collaboration with the Overwatch League, both parties will explore further changes to the league’s business plan.

It is an open secret that franchised teams throughout the world have struggled to pay franchise fees to the league—as noted in this report from Jacob Wolf last year—so it looks like Activision Blizzard is moving towards forgiving debt accrued by teams. One would assume if OWL is eliminating OAM’s debt it is probably doing the same for all the other teams in the league.

James Fudge

With a career spanning over two decades in the esports and gaming journalism landscape, James Fudge stands as a seasoned veteran and a pivotal figure in the evolution of esports media. His journey began in 1997 at Game-Wire / Avault, where he curated gaming and community news, laying the groundwork for his expertise in the field. In his more recent roles, James cemented his status as an authority in the esports business sphere as Senior Editor Esports at Sports Business Journal and The Esports Observer between 2018 and 2021.