Echo Fox LCS sale to Kroenke group off after lawsuit filed

Steven R. August 10, 2019

The fate of Echo Fox is once again unknown.

According to a report by ESPN’s Jacob Wolf, Kroenke Sports & Entertainment is no longer attempting to acquire the LCS slot of the embattled organization. This drags out the organization’s ugly decline.

The decision comes following reports of a lawsuit being filed against the company by Sentinels co-founder and CEO Robert Moore.

In July, Kroenke Sports & Entertainment reportedly agreed to purchase the LCS slot of Echo Fox for $30.25 million, a move that would further expand its presence in esports. The holding company owns a number of sports organizations including the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, and Arsenal Football Club. It expanded into esports in 2017 by forming KSE Esports, purchasing an Overwatch League franchise, and forming the Los Angeles Gladiators.

Following the news of KSE Esports purchasing an LCS franchise, Moore filed suit against Kroenke alleging the move violated the terms of a verbal joint agreement between Sentinels and Kroenke. Sentinels has been operating the Gladiators, but Moore has been put in a position where he has been forced to pay for some of the team’s operations out of pocket. He is seeking to recoup those losses and take a majority share of KSE Esports.

Who will buy the Echo Fox LCS slot?

 

With the cancellation of the deal, the future of Echo Fox remains unclear.

Echo Fox fields talent in a number of titles but is now primarily built around its League of Legends team. While it has been a fan favorite organization, it found itself embroiled in controversy earlier this year when reports circulated that company frontman Rick Fox was looking to leave the organization after suffering alleged racist abuse at the hands of a shareholder, Amit Raizada.

This report sparked an investigation into the matter by Riot Games, who demanded Echo Fox sever ties with Raizada within two months. When the company was unable to do so, Riot forced the team to sell its slot in the LCS.

WIth Kroenke out of the equation, Echo Fox’s franchise is likely to once again be put up for sale. In an interview earlier this month, Fox stated that a number of other buyers outside Kroenke had expressed interest in purchasing the slot.

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