Overwatch League expansion slots expected to fetch upwards of US$60 million

Activision Blizzard’s Overwatch League esports competition will include two new expansion franchises for its 2019 season.

Expansion slots have been allocated to the US city of Atlanta and Guangzhou in China, with expectations for the slots to fetch between US$30 million and US$60 million.

The Atlanta team will be operated by a new company called Atlanta Esports Ventures, which is backed by Cox Enterprises, a huge conglomerate based in Georgia’s capital city.

The Guangzhou outfit is owned by Chinese financial and entertainment company Nenking Group, which also owns the Guangzhou Long Lions basketball team.

Overwatch League commissioner, Nate Nanzer said: “We know Atlanta and Guangzhou have deeply engaged fan communities and we can’t wait to unveil their teams.”

“As the league continues to grow, we’re looking forward to seeing more talented pros in action as more roster spots open up.”

The announcement comes less than a week after the conclusion of Overwatch League’s first season, which saw the London Spitfire crowned as the tournament’s first champion.

Paris and Shanghai have also been touted as potential destinations for new teams as the league looks to broaden its reach outside the US.  

The addition of the two franchises brings Overwatch League’s total number of teams up to 14.