Report: Houston Outlaws sold to real estate investor for $40 million

Immortals Gaming Club have reportedly struck a deal.

Photo by Robert Paul via Blizzard Entertainment

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The Houston Outlaws have finally found someone ready to ante up. Real estate investor Lee Zieben, the owner of the Zieben Group, has reportedly agreed to purchase the Houston Outlaws from Immortals Gaming Club for $40 million, according to ESPN.

In early June, Immortals Gaming Club acquired Infinite Esports & Entertainment, the parent company of OpTic Gaming and the Houston Outlaws. OpTic owned multiple teams and slots in various esports, including League of Legends and Call of Duty; these teams will remain under Immortals management.

The Overwatch League does not allow any single entity to own more than one team within the league, meaning Immortals, who owns the Los Angeles Valiant, would be required to sell the Outlaws to comply with league rules. For the last several months, both teams have been operated by Immortals with strict league oversight.

According to ESPN, Zieben will pay $30 million for the Overwatch League slot and $10 million in debts and remaining payments from the Houston Outlaws. Zieben is a developer and Houston resident that is a “strong advocate for his community,” according to the group’s website. With all teams moving to their home cities in 2020, local ownership with ties to the community could be a boon for the Houston Outlaws.

OpTic Gaming has experienced widespread layoffs throughout the end of 2018 and the start of 2019 because of problems within the organization. Rumors of the organization’s buyout began circulating earlier this spring and Immortals Gaming Club’s purchase was announced soon after.

The deal has not been publicly announced by Immortals or Zieben but is expected to be completed by the end of August.