A group of League of Legends fans have set up a crowdfunding campaign to help create a fan-owned team in Korea’s LCK franchise league – and they’re asking for $20 million.
The LCK is one of the most popular and prestigious esports leagues in the world, with the region developing world champions at a rate of knots in Riot Games’ hit MOBA title.
As such, the league is looking to follow a route similar to that of Europe’s LEC and North America’s LCS, with teams buying in to become franchise partners of the LCK.
NA organizations NRG and FaZe Clan allegedly recently pulled out of discussions to own teams in the league, whereas LCK mainstays such as T1, Gen.G and KT Rolster are looking to maintain their spots.
One company that is looking to book their place in LCK, though, is Gamer Republic, Inc., who are calling on fans to help them reach new heights and do something never-before-seen in esports.
Gamer Republic have set up an ambitious kickstarter, appealing to LCK fans to help them crowdfund up to $20m. To break this down, it would be $10m for franchise fees and another $10m to keep the team competitive over the years.
The fundraiser aims to “create a team of the fans, by the fans, for the fans,” giving those involved unprecedented levels of control in the operations of said franchise team.
The kickstarter offers contributors a lot of power over the functionality of the team, including:
- The team’s five-year operating rights (there’s also a two-year operating rights option).
- From the 2021 season, all decisions of the team are made by your vote.
- Exclusively exercise the team’s control over the next two years.
- Player selection, manager/coach selection, player appearance/replacement, ban/pick draft phase are all decided by your vote.
- If the team performs well, you will be given a bigger reward for your good judgment.
- World Championship prize money will be distributed equally to those who have the right to operate.
The campaign is ambitious to say the least, as Gamer Republic and their backers go up against some of the most prolific names in South Korean League of Legends.
At the time of writing, the campaign has raised over $21,000 of their minimum $10m goal.