FlyQuest is the last endemic esports organization that has been accepted for the franchised North American League Championship Series (NA LCS) next year.
According to a report from theScore esports, it will have to pay $10 million over the next few years in franchising fee. $5 million from this figure needs to be cleared before the start of the season–in the next couple of months.
Wes Edens, co-owner of the Milwaukee Bucks, acquired a controlling stake in FlyQuest at the start of the year. The acquisition was a partnership with the Fortress Gaming Investment group in order to purchase a spot in the NA LCS.
FlyQuest displayed an underwhelming and inconsistent performance during the Summer Split. It had to fight just to escape relegation and retain its spot. The next season will bring a new opportunity for the team and its backers. FlyQuest will hopefully surprise its opponents when it starts playing against next year.
Besides FlyQuest, the franchised NA LCS has accepted three more applications that involve investment from the National Basketball Association (NBA). This includes Echo Fox with Rick Fox; the Golden State Warriors with the Lacobs family, and the Cleveland Cavaliers.
More than a hundred applications have so far been submitted to Riot Games in the hopes of acceptance. The company is said to have started notifying rejected applicants last week. It is expected to make an official announcement as to which of the ten applications have been approved for the NA LCS in the coming weeks.