Moin Khot
Dec, 11.2023
The League Championship Series (LCS) witnessed a recent shake-up as both Evil Geniuses and Golden Guardians bid farewell to the North American LoL league. While Riot pondered buyouts for these departing teams, whispers behind the scenes hinted at intriguing developments.
Esports journalist Jacob Wolf spilled the beans on the departure saga, revealing that GameSquare Esports (home to FaZe and Complexity), Enthusiast Gaming (proprietors of Luminosity Gaming and CDL franchise Seattle Surge), and DarkZero Esports were actively exploring the prospect of entering the LCS fray. Their discussions not only involved the teams staying put but also engaged those choosing a different path.
The talks delved into the acquisition realm, contemplating the purchase of either an LCS slot or an entire team's organization—an occurrence that had already marked this year in the league. NRG's foray into the LCS, acquiring the complete CLG organization, and Shopify Rebellion securing an LCS slot from TSM for a cool $10 million exemplified this trend.
Interestingly, the focal point of discussions between interested organizations and existing LCS teams revolved around stock compensation. The intriguing proposition involved team owners transitioning into shareholders of the acquiring team. However, the allure of Riot's cash buyout offer outshone this complex arrangement.
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Riot's offer resonated so strongly that over half of the LCS teams entertained the idea. The enticing package, totaling $6 million in cash, absolution of lingering debts, and a share of the league revenue pool, prompted serious contemplation. Noteworthy teams like 100 Thieves, NRG, Dignitas, Immortals, Golden Guardians, and Evil Geniuses all answered the call, with the latter two opting for the lucrative buyout.