OpTic Gaming parent company to sell share of team
OpTic Gaming is set for another ownership shuffle after news of Texas Esports, LLC is looking to sell their share of the organization.
Texas Esports is the majority shareholder of Infinite Esports & Entertainment, which owns OpTic Gaming and the Houston Outlaws Overwatch League franchise.
According to sources at ESPN, Texas Esports will put up their share of Infinite for $150 million. The sale is expected to being in early February.
The OpTic Gaming brand has a large fan following.The move may have been in the works for some time as Infinite has seen rounds of layoffs since the fall, with OpTic Gaming founder Ryan ‘OpTicJ’ Mussleman taking over to help the company regain its focus.
“Generally speaking, we think we grew too fast,” OpTicJ told SportsBusinessDaily after the layoffs, “I do want to emphasize we’re not losing sight of the model of what we built.”
According to OpTicJ, there has been mismanagement in the organization that went against the direction of CEO Hector ‘H3CZ’ Rodriguez.
The high price of $150 million will give you a few prestigious esports teams. In addition to a franchise in the Overwatch League, OpTic Gaming also has a spot in the League of Legends Championship Series.
The Call of Duty team may currently be in negotiations for a permanent league place as well, as details for the CWL to convert to a franchise system were leaked by the owner of Team Kaliber.
Full disclosure: OpTic CEO Hector ‘H3CZ’ Rodriguez is a minority shareholder in Dexerto Ltd