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Kroenke Sports & Entertainment agrees to acquire Echo Fox’s LCS slot for $30.25 million

8:25 PM ET

Kroenke Sports Entertainment, owner of Arsenal, the Denver Nuggets and the Los Angeles Gladiators, has agreed to a deal that will see it acquire Echo Fox’s League of Legends Championship Series slot for $30.25 million, sources familiar with the deal told ESPN.

The deal is pending Riot Games’ approval and comes after the expiration of a Monday deadline set by Riot that put Echo Fox, which was cofounded by three-time NBA champion Rick Fox, in jeopardy of losing their League of Legends Championship Series slot, as reported by ESPN on Friday. Since the weekend, Echo Fox has scrambled to strike a deal with a suitor.

Riot Games sets Monday deadline for Echo Fox resolution

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  • “Echo Fox submitted a proposal to sell its slot in the LCS to a new investment group. LCS is reviewing the sale and will be meeting with the proposed ownership group in the coming days,” LCS commissioner Chris Greeley said. “We’re working diligently to minimize disruption to Echo Fox players and staff for the 2019 season in partnership with the LCS Players’ Association. If LCS rejects the proposal, Echo Fox has agreed that LCS will be taking over the sale process for the slot. Our goal is to make sure we have an orderly transition and a new team ready

    Article source: https://www.espn.com/esports/story/_/id/27246002/kroenke-sports-entertainment-agrees-acquire-echo-fox-lcs-slot-3025-million

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