can someone explain what franchise system is?

?

wait and watch

COMING SOON...

google is free.

or just look at CDL, LCS, or OWL for a rough idea.

Basically it's just only a certain amount of predetermined orgs are allowed to compete in the main circuit, so the teams remain the same and the players change from team to team so an orgless team wouldn't be able to compete in the main circuit unless they get signed by an approved org
...i think. correct me if i'm wrong

riot chooses teams to play in a league (ASIA, EU, or NA)

only those teams play in the league without open qualifiers

winners of the leagues go to masters