NFL News : Report: Patriots owner to buy another team

Report: Patriots owner to buy another team

Was five Super Bowls not enough?

Published on by The Football Feed in NFL News

New England Patriots owner Robert Kraft is reportedly buying a new sports franchise. E sports, that is. 

Per ESPN, Kraft and New York Mets owner Sterling Equities will each purchase teams in Blizzard Entertainment's upcoming Overwatch League,.

The league has reached agreements for teams to be located in Los Angeles, San Francisco, New York, Boston, Shanghai and Seoul, South Korea. The buy-in price for Los Angeles-based Immortals and San Francisco-based NRG Esports is $20 million per spot, to be paid over time, sources said. The prices for the Kraft group and Sterling Equities and the non-North American spots have not been disclosed.

Kraft has been guaranteed the league's Boston franchise, per ESPN. 

"According to multiple sources, Blizzard is seeking a $20 million buy-in from prospective owners, with no revenue sharing until 2021 and a 25 percent fee, paid to Blizzard, if they sell the spot at a later date," wrote the news outlet.

Overwatch launched in 2016 to much fanfare and as of April had accumulated more than 30 million players worldwide. The game has seen several independently operated esports leagues, including China's Overwatch Premier League and South Korea's APEX. Blizzard itself is currently hosting a North American and European Contenders series prior to the launch of the Overwatch League.

Kraft, 76, possesses a reported net worth of 5.2 billion. He purchased the New England Patriots for $172 million in 1994 with profits from his paper and packaging conglomerate; the team is now worth $3.4 billion. He also owns the New England Revolution MLS club.

 

Source: ESPN · Photo Credit: Keystone Press Agency