Echo Fox has reportedly agreed to sell its League of Legends Championship Series slot to Kroenke Sports & Entertainment, the ownership group behind Arsenal, the Denver Nuggets and the Los Angeles Gladiators.
According to a report published Tuesday by ESPN, acquiring the spot in the North American League of Legends league would cost Kroenke Sports & Entertainment $30.25 million. Should the deal fall through, the LCS will take over the sale process for the slot.
Echo Fox has submitted a proposal to sell its slot in the LCS to a new ownership group. The LCS is reviewing the potential sale and will be meeting with the proposed ownership group in the coming days.— lolesports (@lolesports) July 24, 2019
On May 15, Riot Games gave Echo Fox 60 days to oust minority owner Amit Raizada after reports emerged indicating he'd used racist language in conversations with business partners. Riot Games extended the deadline to July 23 after Echo Fox proposed Raizada's shares be transferred to another entity owned by a family member.
Per LCS commissioner Chris Greely, the Kroenke Sports & Entertainment sale is currently pending approval from Riot Games.
"We're working diligently to minimize disruption to Echo Fox players and staff for the 2019 season in partnership with the LCS Players' Association," he told ESPN.
Photo by Timothy Norris/Riot Games