The majority owner of the Golden State Warriors Joe Lacob and his son Kirk have reportedly been accepted into the North American League of Legends Championship Series as franchise owners.
According to Jacob Wolf of ESPN, Lacob and his son have been accepted into the NA LCS following Riot Games announcing that they would be opening the application process in May, along with changes such as permanent ownership and revenue-sharing options.
A $13 million entry fee will be required to be paid by the Lacobs over the course of the next few years which was consulted by Catalyst Sports & Media, a group that has been deeply involved in recent high-profile financial agreements within the esports industry.
It is also stated in the report that the league will “admit 10 total teams from a pool of applicants that include longtime League of Legends teams and non-existing sports owners, venture capitalists and entrepreneurs.”
League of Legends, a third-person multiplayer online battle arena game, has become one of the most recognized esport titles throughout the world, with players and teams competing for tournament prize pools in the millions of dollars.
Image: League of Legends
As the esports market continues to grow at a rapid rate, large-scale financial investments such as Team EnVyUs and OpTic Gaming entering the Overwatch League, various celebrities providing financial backing to NRG Esports, and various other instances appear to be taking place at a more consistent rate.
At the time of writing, nothing has been confirmed by the Lacobs or the NA LCS regarding the deal.
The 2017 League of Legends World Championship will run from October 6th to November 4th across four different locations in China, with a total of 24 teams playing for a prize pool of $2,250,000 plus fan contribution. A full CoverageHub of the one-month event can be found right here.