FaZe Clan, NRG apparently submit letters of intent to invest in LCK franchised league|Dot Esports
South Korea’s premier League of Legends league, the LCK is going to a franchised format in 2021, and there may be some really big organizations joining.
FaZe Clan and NRG Esports are amongst the 25 entities that have submitted a letter of intent to purchase the upcoming league, according to Korean news outlet Fomos. All 10 LCK groups and 8 teams from Challengers Korea, the area’s secondary league, have likewise apparently submitted LOIs.
NRG is no complete stranger to League esports, as the company fielded an LCS group for one season in 2016 before being relegated after a 4-14 Summer season Split record. FaZe, nevertheless, has actually never been associated with League in spite of purchasing numerous competitive titles, including Fortnite and CS: GO, in addition to the Call of Duty League, in which FaZe partnered with Atlanta Esports Ventures to create the Atlanta FaZe franchise.
According to Fomos, a Riot official alerted that a letter of intent to invest does not guarantee all 25 organizations will in fact request an area in the league. Those interested have till June 19 to send an application. Riot will evaluate the applications thereafter until sometime in August before announcing the partnered teams in September.
Riot announced LCK would be following in the footsteps of the LCS, LPL, and LEC in franchising on April 5. At the time, Riot said its aim was to “reinforce LCK’s proficiency and ultimately create a more satisfying experience for all individuals of the league.”
As a part of the format change, LCK companies will be needed to pay all players a minimum of 60 million Korean won, or about $49,000, per year.