The Sigma 50-500mm F4-6.3 OS is a cracking lens and is referred to as the Bigma. I have one without the OS and it has produced cracking shot. Most people who have one love it and swear by it. I have used mine with the Sigma 1.4 converter but manual focus only. It can even be used with the Sigma 2x converter. It's a heavy lens but not a problem for most handholding.
The L on Canon lenses denotes better optics. I'm a Nikon user and have the Nikon 300mm F4, which I have used with both the Nikon 1.4 and 2x converters to great effect. You also consider the Canon EF 100-400mm f4.5-5.6 L IS USM Lens, which is well regarded.
If I had to make a choice, then I'd go for the Sigma 50-500mm F4-6.3 OS.