A recent earnings report from Activision Blizzard revealed that the company modified its agreements with OWL team owners last quarter. After the conclusion of the current OWL season, teams will vote on an updated operating agreement. Failure to agree to the new terms will result in a termination fee of $6 million for each participating team entity. The report also indicated that OWL’s total revenue accounts for less than one percent of the company’s consolidated net revenues.
Reports surfaced that the Overwatch League waived its remaining franchise fees, resulting in teams still owing between $6 million and $7.5 million after pandemic-related payment deferrals. Initially, a spot in the league cost $20 million, but expansion teams that joined in the second season paid over $30 million.
