Popular eSports Organization Echo Fox has dissolved its name. The Company has closed its Website, Twitter is also abandoned, the players are not being featured at tournaments. Another evidence to the case was when Major Echo Fox players did not wear the Team Jersey at a tournament. The Company has not confirmed if everything is abandoned, however, an Official Echo Fox Investor spoke to Win.gg saying ” “All the players were let go. The staff was terminated. The logo and uniform, they’re now a collector’s item.”
The Org was disbanded after they lost their major Slot in League of Legends Championship Series. Riot planned on selling the Slot to Echo Fox however things were very shaky at that time. Evil Geniuses bought that slot for $30 million, which was a relatively low amount to what Echo Fox investors had planned.
Echo Fox former CEO Rick Fox did not allow Echo Fox to be sold, an investor said ” “He had other things he wanted to do that would protect his interests moving forward,” the spokesperson said. “Echo Fox was worth more than what it sold for at that auction. Plus, they had to keep paying everyone while this was all going on.”
Riot launch an investigation into the matter, and after they found out that an investor at Echo Fox had left racist remarks. The people at Riot found that the Organization had four material breachers. Furthermore, Riot also found out that Echo Fox did not have more than $5 million, thus they lost the slot.
The current situation is that many investors rose against Fox, saying that he had no interest. The Court ruled that Fox will lose his position after October 20, and the case ended. Echo Fox was not earning a lot despite its players showing good performance in EVO 2019. Echo Fox was not able to pay the players their salaries, because they were not earning anything. The investors held their money and did not plan on investing more. The case against Amit Raizada was also left in the trash, and Echo Fox is having hard time surviving
“Rick Fox is now out of a job. He’s no longer part of Echo Fox. He didn’t walk away with anything. His lawsuit against Raizada and Sclavos is gone,”
Retired Basketball player Rick Fox had built a very successful Organization. His team won many trophies and everything was solid. The CEO lost his reputation, after being declared a “disaster” by investors. Furthermore, his leadership had left the company in a bad financial position. Everything being said, there is no evidence that Echo Fox will be an Organization again. It looks like the Company has ended.
You might be interested in:
Riot warns players and casters to avoid discussing “sensitive issues” during Livestreams
Blizzard will return Blitzchung’s money, the suspension is also reduced.
Protest against Blizzard keeps growing bigger, Epic Games speak.
World Protests After Hearthstone player banned over supporting Hong Kong Protests