Evil Geniuses Acquires Echo Fox' LCS Franchise Slot
Esports organization Evil Geniuses will "acquire the League of Legends Championship Series slot previously owned by Echo Fox after being selected" by LoL developer Riot Games as the "league's newest member," according to Jacob Wolf of ESPN.com. Financial details of the bid "were not disclosed." However, a source said that the offer is "expected to be similar to previous ones made by the organization." Evil Geniuses had "previously bid twice on Echo Fox." The first "came in late July," for $41M, with $10M in cash and $31M in contingent payments. The second offer -- $30.25M guaranteed -- "came in August after Echo Fox's deal with another group fell through." Sources said that Riot "received inquiries" from Evil Geniuses, Dick Clark Productions Exec Chair Allen Shapiro and Washington Esports Ventures, the owners of the Washington Justice Overwatch League team. Sources added that both Shapiro and WEV are "expected to remain interested heading into potential future league expansion" (ESPN.com, 9/26).
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