Written by Dante Uzel on 14 November 2024 21:22
OverActive Media has announced a long-term partnership with Riot Games, ensuring its continued participation in the League of Legends EMEA Championship (LEC). OverActive, which was awarded an LEC franchise in 2018, will continue to be in the League.
According to release, OverActive's expects a stronger market presence and opens new revenue streams, including expanded sponsorships, merchandise sales, in-game purchases, and media rights.
As part of the agreement, OverActive will also see a $2 million reduction in franchise fees due in 2025, removing those financial obligations from its balance sheet.
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“With this agreement, we have eliminated all future franchise obligations from our balance sheet and we now own 100% of our franchises without any associated liabilities,” said Adam Adamou, CEO of OverActive Media. “This long-term partnership with Riot Games reaffirms our commitment to the League of Legends EMEA Championship and strengthens our strategic position in esports. We are excited to deepen our connection with fans and partners through our continued participation in the LEC, as we focus on delivering sustainable, long-term value for our shareholders.”
Tags: OverActive Media
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