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Sonic Fox's Sponsor Echo Fox Officially Shuts Down

Over the weekend, we had an announcement that EchoFox, FGC and all around eSports team, has gone under. Everyone from employees to players have been let go as a result of the announcement.

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Most recent sponsor to Sonic Fox, dekillsage and former sponsor to the likes of J-Wong, Theo, Tokido and Scar, the eSports team put together by former NBA player Rick Fox finally shut down after issues arising with an investor from earlier in the year. The investor, a man by the name of Amit Raizada, caused a whirlwind of issues for the company when his history of racist and violent remarks to people involved with the brand went public, resulting in Rick Fox almost leaving and Riot Games putting a ban on Echo Fox competition in League of Legends while he remained. Things got worse from there, with Raizada leveraging this position to get a buyout from the team, rather than voluntarily leaving, and business partner Vision eSports filing a lawsuit against Echo Fox.

Doesn't appear to be any official announcement, but the website now has a bunch of links that do nothing and people across the internet have been announcing they've been let go. As of this weekend, with the DBZF event in Madrid, both Sonic Fox and dekillsage were using the Echo Fox tag in their handles, but it sounds like they'll both be up for grabs for any sponsor looking to pick up some major talent. If any updates come in, we'll update this thread with that info.
 

Comments

But all these TO’s and top players say you can make a living off fighting games. But but but.

Im not surprised they shut down specially with an unmarketable foul mouth in sonic fox leading their charge.
1) Sonic has been making a living from fighting games for years, including long before Echo Fox, and will continue to after. Just the winnings from EVO and pro tour alone is an entire salary.

(This is JUST tournament money, not even sponsorships)

2) Sonic was not ‘leading’ anything at Echo Fox. Fighting games are not even the most visible part of their brand. You clearly have no idea who they were, no idea who Rick Fox is, no idea what LCS is, and didn’t read the OP on top of that. Not a single issue they had has anything to do with Sonic at all — so attempting to malign him looks extremely desperate on your part.
 
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I'm curious what exactly that guys remarks were exactly and how long ago did he say them. Anyone have his exact quotes?
 
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Btw this story is absolutely tailor-made for a Kotaku deep-dive exposé going back through the history of everything that happened. I’d be surprised if they don’t have a journalist on it already.
 
33% of Sonics winnings are gone just in taxes alone. That also is not guaranteed money. In your young 20s you can certainly make a living off that. late 30s-60? No.. That money won't be there when you hit 55 but your expenses will be 10 times what they are in your 20s.

Sponsors or "teams" are essential for players to earn a consistent living. Problem is EVERY pro league that does a fighter folds unless they drop the fighter first. Every sponsor that goes after FG players folds unless they drop all FG players first. This has happened through EVERY SINGLE generation of player in my life time. Teams simply haven't found a way to monetize their players.

This is NOT an MK11 issue, it's an issue fighters have been dealing since the very beginning of fighting game history. I know many ppl will point to MK11 on this but it simply isn't the case.
 
33% of Sonics winnings are gone just in taxes alone. That also is not guaranteed money. In your young 20s you can certainly make a living off that. late 30s-60? No.. That money won't be there when you hit 55 but your expenses will be 10 times what they are in your 20s.

Sponsors or "teams" are essential for players to earn a consistent living. Problem is EVERY pro league that does a fighter folds unless they drop the fighter first. Every sponsor that goes after FG players folds unless they drop all FG players first. This has happened through EVERY SINGLE generation of player in my life time. Teams simply haven't found a way to monetize their players.

This is NOT an MK11 issue, it's an issue fighters have been dealing since the very beginning of fighting game history. I know many ppl will point to MK11 on this but it simply isn't the case.
Echo Fox is not folding because of fighting games. A lot of you guys didn’t do your homework and actually read the backstory.

Pretty much every legitimate esports organization is structured around future business models. They know that they won’t be collecting enough to turn a profit in the short term, which is why their businesses aren’t built around collecting from the players.

But in Echo Fox’s case specifically, there was a major internal conflict, centered around a few things: 1) An ugly racial spat that was made public and forced Riot games to audit the team’s conduct 2) The investors double-dipping into Twin Galaxies’ finances and using Echo Fox as collateral to blow wads of cash on random things 3) Rick Fox as the public face of the company entering into major disputes (including multiple lawsuits) with the most significant investors. 4) Riot’s ultimate disqualification and removal of Echo Fox from the LCS, which tanked their valuation and essentially removed their primary reason for existing.

Those 4 things combined are what brought Echo Fox to a halt. It has absolutely zero to do with fighting games. And they sold for $30 million dollars.

It’s important to actually read the news, before you rush in trying to tie this to talking points that have nothing to do with why they’re shutting down.
 
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Echo Fox is not folding because of fighting games. A lot of you guys didn’t do your homework and actually read the backstory.

Pretty much every legitimate esports organization is structured around future business models. They know that they won’t be collecting enough to turn a profit in the short term, which is why their businesses aren’t built around collecting from the players.

But in Echo Fox’s case specifically, there was a major internal conflict, centered around a few things: 1) An ugly racial spat that was made public and forced Riot games to audit the team’s conduct 2) The investors double-dipping into Twin Galaxies’ finances and using Echo Fox as collateral to blow wads of cash on random things 3) Rick Fox as the public face of the company entering into major disputes (including multiple lawsuits) with the most significant investors. 4) Riot’s ultimate disqualification and removal of Echo Fox from the LCS, which tanked their valuation and essentially removed their primary reason for existing.

Those 4 things combined are what brought Echo Fox to a halt. It has absolutely zero to do with fighting games. And they sold for $30 million dollars.

Some of you guys need to actually read the news, before you rush in trying to tie this to talking points that have nothing to do with why they’re shutting down.
^This, 110% true.
 
Echo Fox is not folding because of fighting games. A lot of you guys didn’t do your homework and actually read the backstory.

Pretty much every legitimate esports organization is structured around future business models. They know that they won’t be collecting enough to turn a profit in the short term, which is why their businesses aren’t built around collecting from the players.

But in Echo Fox’s case specifically, there was a major internal conflict, centered around a few things: 1) An ugly racial spat that was made public and forced Riot games to audit the team’s conduct 2) The investors double-dipping into Twin Galaxies’ finances and using Echo Fox as collateral to blow wads of cash on random things 3) Rick Fox as the public face of the company entering into major disputes (including multiple lawsuits) with the most significant investors. 4) Riot’s ultimate disqualification and removal of Echo Fox from the LCS, which tanked their valuation and essentially removed their primary reason for existing.

Those 4 things combined are what brought Echo Fox to a halt. It has absolutely zero to do with fighting games. And they sold for $30 million dollars.

Some of you guys need to actually read the news, before you rush in trying to tie this to talking points that have nothing to do with why they’re shutting down.
And I agree.. I was mainly speaking in generality, not that this was the reason for EchoFox folding specifically.
 
33% of Sonics winnings are gone just in taxes alone. That also is not guaranteed money. In your young 20s you can certainly make a living off that. late 30s-60? No.. That money won't be there when you hit 55 but your expenses will be 10 times what they are in your 20s.

Sponsors or "teams" are essential for players to earn a consistent living. Problem is EVERY pro league that does a fighter folds unless they drop the fighter first. Every sponsor that goes after FG players folds unless they drop all FG players first. This has happened through EVERY SINGLE generation of player in my life time. Teams simply haven't found a way to monetize their players.

This is NOT an MK11 issue, it's an issue fighters have been dealing since the very beginning of fighting game history. I know many ppl will point to MK11 on this but it simply isn't the case.
It's a world that's next century for someone who lives in the third world like myself.
E-sports barely exist around here and it's mostly a private club activity rather than something with larger sums of money involved.

It's definitely interesting to read about this.
 
And I agree.. I was mainly speaking in generality, not that this was the reason for EchoFox folding specifically.
In generality, no legitimate esports organization depends on making money today from its players. They are all backed by megamillionares who are equipped to lose money for the forseeable future until they can figure it out.

League revenue is almost entirely from broadcasting deals, corporate deals, and franchising buy-in — not from the players.

There are a lot of misconceptions around esports and what keeps it afloat.
 
Btw this story is absolutely tailor-made for a Kotaku deep-dive exposé going back through the history of everything that happened. I’d be surprised if they don’t have a journalist on it already.
Yeah, I saw some stuff regarding the original business partners and how it shouldn't have been a shock that EchoFox was going to collapse. Seems like Rick Fox really wanted to do this thing and took some risks early on that came back to bite him in the ass now