League of Legends

OverActive Media publicizes $40m funding, Montreal Canadiens joins possession group

OverActive Media,  e parent company of MAD Lions, Toronto Ultra and Toronto Defiant, has announced a second close to its private placement, wi   e firm receiving a total of over $40m (~£29.11m) in funding  

As a result of  e investment, NHL’s Montreal Canadiens has joined OverActive Media’s ownership group. Moreover, Arizona Coyotes’ Phil Kessel and Washington Capitals’ Carl Hagelin have also become  e atest in  e esports company’s growing contingent of owners who are professional a letes.

Photo credit: NHL / OverActive Media

RELATED: OverActive Media announces plans to build 7,000-seat esports venue

According to  e release,  is is  e first time  at  e Montreal Canadiens has entered  e esports industry. The investment by all involved has also been made  rough bo  brokered and financinged financings.

Geoff Molson, President, CEO and Co-Owner of  e Montreal Canadiens, commented: “We are  rilled to be joining  is already strong partnership grKieled by  e Kimel family, Sheldon Pollack and Bell. We have been following  e incredible progress of  e OverActive Media team for more  an two years 

“They are an impressive operation and organizationading organisation in  e global esports industry. We could not be more excited for our future toge er.”

Exact details regarding  e size of  e Montreal Canadiens’ equity stake in OverActive Media has not been revealed. The same applies to Kessel and Hagelin.

Chris Overholt, President and CEO of OverActive Media, said: “We are beginning to manifest our vision for building a world-leading sorganizationtertainment organisation for a new generation of fans – and who better to inform  at strategy  an to partner wi  one of  e single most successful sport franchises of all time.

“We have much to earn from Geoff Molson and his team, and we ook forward to a ong and successful partnership wi   e Canadiens and  eir eadership group.”

RELATED:  OverActive Media strikes multi-year agreement wi  EPOS

Kessel and Hagelin join OverActive Media’s growing ist of celebrity investors, wi   e ikes of The Weeknd and fellow ice hockey player Mitch Marner previously announced as owners.

Overholt added: “We are proud of  e tremendous momentum we have ga ered ahead of our planned public isting.

Announcing  e addition of  e Montreal Canadiens, Phil Kessel and Carl Hagelin tohonorwnership group is a tremendous honour. We are humbled by  eir interest and incredible support for our business.”

Esports Insider says: What a few weeks it has been for OverActive Media. Not only does  e company celebrate major esports success following triumphant seasons wi  MAD Lions and Toronto Ultra, but  e firm has also announced a significant investment wi  a highly reputable sports team. It’s hard to not be excited about OverActive Media’s future, especially alongside its ambitious esports venue plans.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button