Microsoft may lose $120 million due to the Overwatch League shutdown
Microsoft may lose $120 million due to the Overwatch League shutdown
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Microsoft may lose $120 million due to the Overwatch League shutdown
11 comments
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120mil? That’s pocket money for them.
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A few hundred million here, a few hundred million there, and pretty soon you're talking about real money.
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We can only hope
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Worth pointing out that while Microsoft will pay each of the 20 teams $6mil if the league dissolves, each of those teams paid Microsoft (well ABK) $7.5mil to enter.
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This is reasonable, but it does seem weird to me that they can vote to disband and be entitled to the payout still.
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This is the best summary I could come up with:
That adds up to $120 million in total, and with Activision Blizzard now under Microsoft's wing, that money will ultimately come from its checkbook.
The writing for the Overwatch League has arguably been on the wall for some time, as it struggled to maintain its initial success and momentum past shifts away from esports and the onset of the COVID-19 pandemic in 2020.
These disruptions led to the cancellation or restructuring of matches held at venues across the United States that fans could attend, and excitement for the league waned over time.
Earlier this year, most Overwatch League teams employed the British law firm Sheridans to represent them and hammer out an agreement with Activision Blizzard.
As for the future of Overwatch esports, Activision Blizzard is expected to work with ESL FACEIT Group to handle the 2024 season, according to sources familiar with the plans.
This news came alongside BlizzCon 2023, during which developer Blizzard showed off several planned upcoming releases for its biggest titles.
The original article contains 408 words, the summary contains 165 words. Saved 60%. I'm a bot and I'm open source!
11 comments