Kroenke Sports & Entertainment won’t be the new owners of Echo Fox’s LCS franchise slot after all, ESPN reported Saturday. According to Jacob Wolf, the deal fell apart Friday “due to circumstances unrelated to Echo Fox”.
The report says that aforementioned circumstances have to do with the lawsuit that Sentinels CEO Rob Moore filed against the Kroenke group for not including him in the Echo Fox deal. Moore, who’s been operating Kroenke’s Los Angeles Gladiators OWL franchise, said in the lawsuit he’s “gone out of pocket” on some OWL expenses and is therefore seeking majority share of KSE Esports, Kroenke group’s esports vertical.
The Echo Fox deal was worth $30.25M, reports stated, but now that management has to go back to the negotiation table — with Riot Games by their side — the number is likely to change. According to ESPN sources, Echo Fox have also had offers from Evil Geniuses and compLexity. A third offer came from Allen Shapiro, Dick Clark Productions executive chairman, who is also a minority owner in Team Liquid parent company aXiomatic. Whether Shapiro’s involvement with Team Liquid will prompt Riot Games to call “conflict of interest” should he attempt to acquire Echo Fox’s slot remains to be seen.
Since Echo Fox have been eliminated from the playoffs run, there’s ample time for them to find a solution, though their players are all caught in an unpleasant limbo, waiting to see who their new owner will be. As reminder, Echo Fox found themselves in this situation after earlier reports by Richard Lewis broke emails in which EF minority owner Amit Raizada used racist language in company correspondence. After Riot’s interference, Echo Fox had 60 days (plus a seven-day extension) to oust Raizada or leave the LCS —a situation that was supposed to end with the Kroenke deal, but is now back in development.