NRG Esports has sold their spot in the North American Challenger Series to a new organization called J2K Esports and Technology, who will field a roster named Gold Coin United.
"Whilst this was a difficult decision to make, ultimately we wanted to focus our efforts on key titles outside of League of Legends," NRG president Brett Lautenbach said in a press release. "We have the highest level of commitment to our current rosters and want to give them all the attention they deserve."
"We wish J2K well in Challenger. To our League of Legends fans, thank you for all of your support. We look forward to one day fielding a roster you will be proud of."
NRG entered the LCS in November 2015, after buying Team Coast's spot in the 2016 Spring Split. The team went on to place fifth in the spring and ninth in the summer, leading them to fall to the 2017 NA LCS Spring Promotion tournament, where they were eliminated 3-0 by Echo Fox and relegated to Challenger.
NRG currently fields teams in CS:GO, Overwatch, Gears of War and Smite as well as Super Smash Bros. and Hearthstone players.
J2K is co-owned by New York real estate agent James Kuhn and his son, Jake Kuhn. James is the president of the Newmark Grubb Knight Frank real estate firm, and has not had any previous association with esports.
Daniel Rosen is a news editor for theScore esports. You can follow him on Twitter.