Echo Fox co-founder and three-time NBA champion Rick Fox is being removed from the team after more than 80 percent of his partners said that “he did not act within the best interest of the business,” according to a report from ESPN’s Jacob Wolf.
Fox reportedly repeatedly worked against the various partners and the company interests, and even said that he would “burn this company to the ground.” He also allegedly tried to poach Echo Fox president Jared Jeffries, general manager Jake Fyfe, and head of public relations Haley Hey to create his own company.
Shareholders also claim that Fox fired several Echo Fox employees on Friday, Aug. 16, which ended up negatively impacting the organization’s operations. Fox even declined a $30.5 million offer from Evil Geniuses, against the council of his shareholders and investment bank.
In April, news broke about how Amit Raizada, one of the team’s investors, used racist language toward former Echo Fox CEO Jace Hall and even threatened Fox’s family. In May, Riot Games notified Echo Fox that it would have to either get rid of Raizada or sell its LCS spot. The organization ended up choosing the latter.
The team originally found a deal with Kroenke Sports & Entertainment, but it fell through. As a result, Fox and his partners couldn’t agree on who to sell the team to.
Echo Fox’s partners wanted to sell the team to EG, while Fox wanted to sell to Mosaic Media Investment Partners. As a compromise, both parties agreed to let Riot auction off the spot, where EG’s bid was accepted for the final LCS spot.
Update Sept. 30 9:15am CT: Fox provided the following statement to Dot Esports about this report. “When you are in business with Amit Raizada, a man who has repeatedly been accused of dishonest and fraudulent behavior and who has a long track record of business disputes ending in litigation, then this is unfortunately what you should expect,” Fox said. “I founded Echo Fox with great hopes that were dashed by racism, deception and greed. On behalf of the Echo Fox General Partnership, I wish to congratulate Evil Geniuses on acquiring the LCS spot, and look forward to moving forward with high hopes for the future.”