WHY FORCE HIM TO SELL HIS SHARES THO
HE ALEADY GAVE UP HIS POSITION AS CEO
Holy shit this has escalated way beyond what should be fine, I understand he made a mistake but this is going too far now. Guy paid for it more than he actually needed to
Forced him to sell his shares lol. How? Granted he’ll be paid millions but, how do you force someone to do this.
probably warned g2 they'll lose their lcs spot if he remains a shareholder
How? They own the spot. These contracts are not designed to cancel a partnership due to non-terminable offenses. It’s why Bobby Kotick (Act/Blizz CEO) still owns his equity & shares. I own the shares lol. It’s my company. Riot can’t just remove G2 since that franchise spot was purchased and I’m sure has a bunch of contractual obligations.
I’m curious on how though.
They basically did it with echofox in lcs a few years ago, they could do the same if they wanted to
No. They can’t. Lol
Riot has no legal authority on the company I own and have shares with. Releasing G2 due to not meeting financial obligations they agreed on (Echo Fox) is one thing. But if I’m meeting and exceeding obligations then lol. Can’t do shit. It’s my company.
Edit: Read about Echo Fox. It was a totally different fiasco.
well my point is that orgs aren't full owners of their spot with no riot involvement. They're the publisher of the game and the league, they can even prevent teams from selling their spot without their confirmation, and other contractual obligations where they can force an organization to sell their spot to whomever Rito decides to. They most likely have a contract to respect to cover damage to the image of the company, and Carlos unfortunately fits the description with this PR drama and his behind the scenes issues with Riot as well. I doubt they would say such thing if they weren't sure they could go through with it
If I purchase a franchise spot and meet your obligations there’s nothing Riot can do for a non terminable offense. Now, they can pressure to sell the LEC spot through whatever loophole is stated in the contract but in no way is it forced.
Riot is so based nowadays wtf.
This is so fucking insane especially considering they've had sexual misconduct problems in their own company they were trying to hide from public. anyone who thinks this is the righteous decision needs to immedietely go outside
riot changed they're now a mega company. When riot drops their fighting game and mmo , they will take over the world as the number 1 gaming company.
common rito w
Ive never been so embarrassed as a Riot Fan
Yeah. This shit trash if they’re applying political pressure. Not sure how they force someone to sell shares though.
I mean yeah, ocelote needed punishment and all that stuff but damn this is pretty wild, i dont even like ocelote and find him pretty cringy but this is a huge blow to his career
"some people were scared of losing the g2 LEC spot. according to information that was shared with me (awaiting for other sources to completely confirm), It looks like riot told g2 ocelote was in a "blacklist" he cant take part on anything that concerns riot, and it looks like ocelote had to sell his g2 shares and thats why in his video he says he has nothing to do with g2 anymore'' his words, lot of ''looks like'' not sure, and Riot didn't force Carlos to sell his share (and they couldn't do that too). Basically just all from G2 investors were scared
Gotcha. That makes sense lol. I’m like how can Riot make me sell my shares in my company lol.
RIOT games is a joke with their so called upholding policies
yeah he made a mistake, cost the org their slot, stepped down, i think thats so much more than enough. if this is true thats just meh. anyway who is the guy speaking
Common rito L
Btw why is rito doing this....I know it's related to tate is that correct?
Where do they think they get the right...
If this is true, which it's of course it's just a rumour right now... Carlos made a mistake granted, but he took responsibility and gave up his seat as CEO. As a little lawsuit settlement would suggest, that's a whole lot more responsibility than Riot took.
how can rito force carlos to sell his shares? that doesn't sound plausible. G2 is a privately owned org, right? so, rito wouldn't have any power over G2 and carlos. i feel like it's just the board of directors trying to cut all ties with carlos.
Might be part of their severance package cause yeah. Riot can’t do anything about G2 & Carlos.
They do have a very strong influence over them though because of how important League is for g2
They’re not literally forcing them, but saying that as long as he’s there, they wont be working with riot going forward
Influence not making me sell my shares though. A severance package would. I need to make sure I’m good for life if you want to stay in Riots good faith.
Well the board of directors probably persuaded carlos to sell, and he might still have a severance package, but I doubt it considering the financial cost of the situation would prob make it a justified decision
If I own equity and you want to remove me you’re definitely paying me lol. I don’t care about the decision being justified it’s whatever I’m legally owed.
This a corporation fellas this isn’t some “We don’t want you now leave” situation.
Well I'm sure g2 bought out his shares, I don't think there's doubt about that. I just doubt he's getting a severange package for leaving the CEO role, which seems a justified decision given the val spot and sponsors lost
franchised teams in league own their spot tho unlike in valorant. rito can't kick G2 out unless the org goes bankrupt or their contract runs out.
i tried to find how long G2's contract was in league but couldn't. still, the earliest it can be is at the end of this year. by then, the internet will forget everything. so, rito threatening to kick G2 out after this year from league would be dumb. to me, it seems like a paranoid decision made by the board of directors at G2.
we just have wait for the whole thing to unfold.
Well yeah, I don't think its a good call from Riot, but it seems they just want to make an example out of them to try and move from the SA drama, as hypocritical as it may seem. About G2 board, idk, any CEO in any company that makes such drastic mistakes probably gets the same treatment, and there's probably more behind the scenes
I saw ludwig stating that Carlos has also paid a 15 million dollar fine as well for this, Everybody saying deserved will probably never understand how much losing a job of that degree after building up the company would feel, ffs he is blacklisted too?!
Yeah, riot sucks as a company. Carlos paid way too much for something that only "indirectly" demonstrated "support" for Andrew Tate's views.
WTF? "IF THIS IS TRUE" I WANT TO SEE THE SAME ENERGY OF THOSE WHO WORK AT RIOT TO SHARE THEIR OPINIONS ON THIS. THIS HAS GONE TOO FAR ALREADY WTF
Bro that’s actually fucked from Riot, especially since they have done way worse things as a company then Carlos being seen with a controversial figure
it wasnt true what he said
Dude actually got canceled because he partied with someone.
Riot is the absolute last company to hold grudges too.