Riot Games Names Euro 'League of Legends' Franchise Holders

Riot Games selected 10 organizations to hold semi-permanent franchises in its top-tier European circuit of "League of Legends," including three with predominantly North American owners. Misfits Gaming is backed by the NBA Miami Heat; Rogue is owned by ReKT Global, an agency backed by MLB N.Y. Mets COO Jeff Wilpon's Sterling Equities; and Splyce counts Toronto-based OverActive Media and Delaware North among its investors. Bundesliga club FC Schalke 04 is also a franchise holder, Riot said. The others are Fnatic, G2 Esports, Vitality, exceL, SK Gaming and Origen.

Riot raised about $106M selling the slots, and the teams get league revenue sharing in return. The six clubs that participated in '18 paid $9.2M each as a franchise fee, while the four new names paid $12M each. Along with the new clubs, Riot will change the name from the EU League of Legends Championship Series to the League of Legends European Championship.

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