On May 16, Echo Fox issued an official statement in which they made it clear that they were working towards removing a certain investor from their organization.
"We are working with the highest level or urgency to remove the investor from the Echo Fox organization," they tweeted. "Diversity has always been a hallmark and point of pride for Echo Fox since our inception."
Although not explicitly named in their statement, the investor in question is believed to be Amit Raizada, founding partner of Vision Venture Partners Group, who has been accused of making racist comments and threats against Echo Fox co-owner Rick Fox and former CEO Jace Hall.
Echo Fox' statement came in response to the ultimatum handed down by Riot Games and the LCS on May 15, which gave Echo Fox 60 days to take "appropriate corrective action" against the accused investor.
If Echo Fox are able to successfully part ways with the accused investor, they will likely not face any issues with Riot Games and the LCS.
On top of that, Rick Fox will likely decide to stay on board with the organization he founded back in 2015, as he's previously expressed his desire to remain with Echo Fox should they remove Raizada, assuming he is the one discussed in the tweet above.
However, that is not easier said than done, and if they fail do meet Riot's deadline, then their status within the NALCS could be in jeopardy, which could be a huge blow to the org.
The scandal first broke loose on April 25 when Fox announced to all major stakeholders that he would be leaving Echo Fox because a certain investor had allegedly made racist comments against him and had threatened his family.
Several hours later, Echo Fox confirmed that there had been some sort of situation involving racism, although Raizada's legal team swiftly denied all accusations.
Since then, new esports publication Upcomer published text messages that Raizada allegedly sent to former business partner David Vittor, some of which contained anti-Semitic insults.
As always, we will continue bringing you more on this story as the situation continues to develop.