A “major” Echo Fox investor has claimed the organization’s founder Rick Fox misled and lied in his interview with Richard Lewis last week, according to Upcomer.
Upcomer reported earlier today it acquired an email from an anonymous Echo Fox investor that said Fox told “flat out lies” when he spoke with Lewis, including when discussing the supposed debt buyout and subsequent company reshuffling as a result of minority owner Amit Raizada’s actions.
The investor confirmed Raizada, who said racial slurs to EF manageement, did threaten Fox’s family, but they claim it was not the reason Riot Games wanted to remove Echo Fox from the LCS. Instead, the investor claims the debt conversion that Raizada engineered was a major issue for Riot, which acknowledged Echo Fox’s proposal to sell its LCS slot on July 23.
The unnamed investor said Echo Fox’s debt was controlled by Twin Galaxies. Jace Hall, the president of Twin Galaxies at the time and someone at the receiving end of Raizada’s verbal abuse, was allegedly trying to sell off the debt to anyone who would take it, and Raizada used the opportunity to return to the company.
There are multiple other business venture minutiae that the investor discusses, but one of the most important points revolves around Echo Fox selling its slot in the LCS. While Rick Fox said there was a stalemate when deciding which deal to go with—the Kroenke Sports and Entertainment offer or the Dick Clark Productions offer (a group that has a stake in Team Liquid parent company aXiomatic).
The investor claims that Fox voted for DCP and everyone else voted for Kroenke, and that Fox said he would sell to DCP or go to an auction because he wouldn’t accept a deal with Kroenke. After seeing everyone else was in favor of the Kroenke deal, though, Fox allegedly put his support behind the Kroenke bid.
All of this immediately throws into question what is going to happen next with Echo Fox, and a comment made by this anonymous investor seems to point to the fact that the death knell is ringing for Echo Fox. While confirming that it just the LCS slot being sold, the investor suggests that this will be the end of the team.
Echo Fox started out as an organization intent on bridging the gap between traditional sports and esports, helmed by the enigmatic former NBA player Fox. It may just end up fading amidst a firestorm of accusations and deceit, however, which would be an unfitting end for an organization that’s done a lot in its short lifespan.