I don't get how people don't understand this?
Lets use an analogy. The Lions are one of the worst teams consistently in the NFL right? They never win the super bowl, rarely make the playoffs, and have outright awful seasons most years. How do they make money then if they never win the Super Bowl?
Because people buy tickets to see the events, which OWL has been said will be all LAN and localized for every game. So theres 1 source of income.
Teams also sell Jerseys etc of their players. There is another source.
Teams also have wildly popular streamers like Seagull who get donations and subs which they usually take cuts of. So there is another.
Teams are also sponsored by all sorts of companies, and they get paid for their viewership and the return on sales. This is probably the largest source of income for teams.
Prize pools will also increase over the years. We are talking 1 million dollar minimum prize in year 1. Imagine what it could be in 5 years if things go well?
There is plenty of room to make money.