Overwatch League Franchise Owner Reportedly Interested in Buying League of Legends Team
Kevin Chou, owner of KSV Esports and the Seoul franchise for the upcoming Overwatch League, is reportedly interested in adding a League of Legends team to his esports portfolio.
According to a report from Inven, the former Silicon Valley executive has already approached several organizations in South Korea. However, negotiations have failed due to disagreement over the price.
It is unknown if Chou has his eyes set on a certain team in the regional League of Legends competitive circuit. The issue of cost may not last that long since he already has a track record of spending big on the very best.
Chou reportedly parted with $20 million to purchase one of the first seven slots in the Overwatch League. He then picked up Lunatic-Hai, a two-time OGN APEX champion and the best the country has to offer, for an unknown sum. This included the roster of players as well as the coaching and management staff.
Chou is said to be currently surveying the market. If he is indeed bent on expanding into League of Legends, expect him to drop top dollars in the near future.
Riot Games has followed Blizzard into creating franchises for better revenue generation, starting with North America. South Korea, on the other hand, has stated that it is not interested in the business model and will be sitting on the side for the time being.
The first season of the Overwatch League was previously slated to begin this month. It is now expected to kick off before the end of the year, perhaps around BlizzCon 2017. Nine teams have already announced participation. Only four of them are endemic but this may change by next year.