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
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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.”
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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.