According to a report from ESPN's Jacob Wolf, Riot has mandated that Echo Fox remove minority shareholder Amit Raizada, who Dexerto exclusively reported was using racist language in emails to other stakeholders in the organization. Echo Fox now has until Monday to sell the organization or buy back Raizada’s shares, or Riot will terminate their team agreement and force them to relinquish their LCS slot after the end of this season.
The report states that Riot’s extension of Echo Fox’s May 15 deadline was due to the team submitting a proposal that would have put the ownership of Raizada’s shares in his family instead, which the company declined.
The organization was originally given 60 days to resolve the situation, which they have not been able to do despite apparent best efforts.
This is the first time Riot has taken control by force
This move would mark the first time Riot has taken control of one of its slots by force.
The company previously kicked Renegades and Team Impulse from the LCS for alleged roster tampering back in 2016, which was done without giving Renegades owner Christopher “Montecristo” Mykles a chance to appeal or sell his team.
Raizada repeatedly denied allegations of racism despite proof being supplied by various outlets, including Dexerto's Richard Lewis and Upcomer.
He also greatly exaggerated the relationship between himself and Rick Fox, Fox described in his statement following the publication of Raizada's emails.
Echo Fox was one of ten organizations accepted to the original LCS franchising deal at $10 million a slot.
They were also the only organization to not petition Riot for a solution to a lack of revenue sharing before franchising that was involved in the LCS.
Echo Fox has been searching for a buyer for their entire organization during this period but has up til now been unsuccessful. Should they not do so by Monday, Echo Fox's slot will have a new owner when the 2020 season kicks off.