Warriors Co-Owner Joe Lacob Buys Franchise In Riot Games' New Esports League

Warriors co-Owner Joe Lacob and his son, Assistant GM Kirk Lacob, "have been accepted" into Riot Games' reconstituted North American League of Legends Championship Series as the "newest franchise owners," according to sources cited by Jacob Wolf of ESPN.com. The Lacobs will pay a $13M entry fee for the League Championship Series "over the next few years." That starts with an $8M "upfront fee;" $5M as the "first installment" and $3M for "not owning an existing franchise in prior League of Legends seasons." Sources said that Catalyst Sports & Media President & co-Founder Josh Swartz and Exec VPs Bryce Blum and Avi Bhuiyan "consulted on" the deal. The Lacobs are the "first non-endemic organization to be accepted into the league." Sources said that the league will admit 10 total teams "from a pool of applicants that include longtime League of Legends teams and non-existing sports owners, venture capitalists and entrepreneurs" (ESPN.com, 10/12).