Riot Games is selling Echo Fox’s LCS slot to a new buyer

Following extensive scrutiny of Echo Fox’s ownership conduct and investor relationships spanning more than two months, Riot Games has officially removed the organization from the League of Legends Championship Series.

The contentious Echo Fox chapter concludes in North America’s premier esports league as Riot Games confirmed a mutual agreement to relinquish the team’s franchise position. This resolution comes after Riot imposed a strict 60-day ultimatum in May, requiring either comprehensive internal reforms or complete divestiture of their LCS slot.

Riot Games disclosed findings from their detailed inquiry, determining that Echo Fox’s ownership group consistently operated below the professional standards expected within the LCS ecosystem.

Echo Fox pursued acquisition discussions with Kroenke Sports & Entertainment, the prominent sports investment entity controlling the Los Angeles Gladiators Overwatch League team. The proposed transaction submitted to LCS officials on July 23 ultimately failed to materialize, primarily due to complex legal entanglements involving Kroenke and active litigation affecting the organization.

Common mistake: Potential buyers often underestimate the due diligence requirements in esports acquisitions. Successful applicants should conduct thorough legal audits before submitting proposals to avoid similar pitfalls.

Riot now initiates a franchise slot sale procedure mirroring the 2017 LCS franchising introduction. This approach targets identifying ownership consortiums demonstrating robust financial foundations and sustainable commitment to league-wide growth and stability.

During the initial franchising phase, Riot established LCS positions at $10 million per slot, though current valuation specifics remain confidential. The application portal activates August 16, offering a 30-day submission period for qualified ownership groups confident in their capacity to fulfill LCS partnership requirements. A percentage of the final transaction value will be allocated to Echo Fox’s existing ownership structure.

Practical tip: Applicants should prepare comprehensive business plans addressing brand development, operational infrastructure, and community engagement strategies. These elements receive significant weight during Riot’s evaluation process, similar to criteria used in our Class Guide for optimal team composition.

LCS commissioner Chris “Grza” Greeley emphasized in his formal announcement that Riot anticipates finalizing partnership terms with a replacement organization preceding the 2020 competitive season commencing January.

“Our assessment framework will scrutinize each candidate’s ownership composition, brand positioning methodology, strategic business blueprint, and competitive operations plan,” Greeley stated. “We maintain our objective of ensuring seamless integration while introducing a fresh competitive entity ahead of the 2020 season.”

Optimization insight: Just as mastering weapon mechanics in our Weapons Unlock guide enhances gameplay, understanding LCS franchise requirements improves acquisition success rates. The league prioritizes long-term viability over short-term gains, mirroring strategic approaches in our comprehensive Complete Guide to strategic gameplay.

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