- OverActive Media closed private placement and raised an investment of $40 million
- Following that, Montreal Canadiens has joined the OverActive Media ownership group
- Both OverActive Media and Montreal Canadiens a thrilled to be working together
OverActive Media makes a second close to its private placement, receiving $40 million funding. Montreal Canadiens, Carl Hagelin, and Phil Kessel join the ownership group.
Montreal Canadiens Become a Part of the OverActive Media Ownership Family
Esports and entertainment company OverActive Media has announced a second close to its private placement. As a result, it has received an investment of more than $40 million and has had the professional ice hockey team Montreal Canadiens join their ownership group.
OverActive Media is known for fielding teams across numerous esports. It owns the Toronto Ultra, Toronto Defiant, and MAD Lions teams. The investments OverActive Media received were both through brokered and non-brokered financings.
Montreal Canadiens is a professional ice hockey team based in Montreal, Quebec. They were founded in 1909. Montreal Canadiens is one of the best teams currently, and its players have won the Stanley cup numerous times. However, this is the first time Montreal Canadiens have actively shown interest in esports.
The President, CEO, and Co-Owner of the ice hockey team, Geoff Molson, revealed that he is thrilled to become a part of the ownership group. He also revealed that the team had been silently following the incredible progress of OverActive Media for more than two years.
“They are an impressive operation and clearly a leading organization in the global esports industry. We could not be more excited for our future together.” Molson commented.
In return Chris Overholt, OverActive Media’s President and CEO also spoke on the investment:
“We are beginning to manifest our vision for building a world-leading sports and entertainment organization for a new generation of fans – and who better to inform that strategy than to partner with one of the single most successful sports franchises of all time.”
Chris Overholt, OverActive Media’s President and CEO
Overholt believes that OverActive Media has much to learn from Molson and Montreal Canadiens, who can serve as a good example. Overholt is looking forward to a long and successful partnership with the ice hockey team.
OverActive Media’s Tremendous Momentum
OverActive Media’s president also said that he’s proud of the “tremendous momentum” his company has gathered already before its planned public listing. The company has some grand plans for the future, including the establishment of a 7000-seat esports venue in Toronto.
Other than Montreal Canadiens, two other big names in ice hockey have joined the ownership group, namely Carl Hagelin from Washington Capitals and Phil Kessel from Arizona Coyotes. They are just a part of the celebrities that have started showing interest in OverActive Media.
The exact size of Montreal Canadiens’, Hagelin’s, and Kessel’s equity stakes have not been revealed. However, Overholt commented that he is humbled by the interest and support of all these professional athletes.
There is a growing tendency for sports and esports to work together. U.S. Soccer has recently partnered with Esports Engine for the eNational Team Closed Finals. Formula 1 is also continuously supporting the F1 2020 esports scene and is even trying to broaden its audience. Moreover, several esports will be officially played as medal sports at the SEA Games this year.
