Editing News/LEC to Tighten Financial Regulations

{{News
|seo_title=LEC to Tighten Financial Regulations
|seo_keywords=LEC
|seo_description=LEC to Tighten Financial Regulations
|image=Gaming.png
|tags=LEC, Riot Games
|date=2023-09-28T14:02:23.000Z
|sources={{NewsSource
|source=Lolesports
|url=https://lolesports.com/article/lec-introduces-sporting-financial-regulations-(sfr)/bltf7b7f07e130f0618
|article=LEC to Tighten Financial Regulations
}}{{NewsSource
|source=Dexerto
|url=https://www.dexerto.com/league-of-legends/lec-introduces-salary-cap-and-luxury-tax-for-2024-season-2313535/
|article=LEC to Tighten Financial Regulations
}}
|author=Andura
|category=More
|content=Riot Games revealed new financial regulations, called Sporting Financial Regulations (SFR), in the LEC. Through SFR Riot Games aims to incentivize teams to keep the combined salaries of their top five highest-paid players below a specified limit. Teams that exceed this limit will be subject to an additional fee known as the SFR Fee.

This initiative by the LEC is designed to foster a financially sustainable environment for professional players, team partners, and the league itself. It enables all stakeholders to experience steady and scalable growth while safeguarding the ecosystem from unsustainable spending practices. 
Maximilian Peter Schmidt, Director of League of Legends Esports, EMEA stated “The LEC SFR, which will come into effect from the beginning of the 2024 Season, is one way in which we’re continuing to work towards our goal of long-term financial sustainability. By doing this, we aim to encourage teams to operate more sustainable businesses to provide job security for players and ensure we serve our fans for decades to come."
}}