Video game publisher Activision Blizzard is finalizing a deal to sell a Toronto franchise in its Overwatch League (OWL) of esports gaming, according to a report from ESPN.
The report states that a Toronto ownership group led by Canadian entrepreneur Michael Kimel and esports organization Splyce are looking to buy the franchise for $35 million.
This would mark Kimel’s first investment in esports, although he does have a minority stake in the Pittsburgh Penguins.
ESPN reports that Splyce will own 10 percent of the OWL team, in addition to leading its operations.
Earlier this month, OWL confirmed that it added teams from Guangzhou, China and Atlanta, Georgia to its roster, as part of a larger effort to bring its worldwide ranks from 12 teams to 18 teams. Should Toronto be officially added as well, it would be only the second North American city to receive a franchise during this expansion.
Image credit: Activision Blizzard