A $500,000 (£425,000), investment was secured by Simplicity Esports and Gaming Company, the US student-led fund director of Triton Funds.
Simplicity Esports is a North American organisation which owns and manages several sports teams, especially Flamengo Esports, competing in the first CBLoL League of Laws in Brazil.
The funds raised from Triton’s investment are intended to support the goals of Simplicity Esports, such as “extension of its range of esporting competitions” and “strong cash flow,” according to a statement.
“Simplicity Esports continues to step closer to our goal to own a franchise team, as our Brazilian legend team, Flamengo Esports, is excelling in the highest competitive rates in Brazil. Simplicity Esports CEOs have made a comment on the investment in this article. Riot’s franchise announcement in Brazil confirms our business plan to create a winning team and lay an operational basis for owning a CBLoL franchise spot in 2021.”
Riot Games, League of Legends’ production company, confirmed plans to franchise CBLoL earlier this year. The future of the league will require an organisational buy-in structure that is unlike LCS, LEC, and LPL, without a relegation. In anticipation of the complete introduction of the new framework in 2021, the application process for interested organisations will be carried out this year.