UPDATE: Riot's official Chinese weibo released a statement confirming Banana Plan's acquisition of LPL production.

We are very pleased to announce, after repeated consideration and comparison, that in 2016 the League of Legends League (LOL PRO LEAGUE, hereinafter referred to as: LPL) will be contracted to Banana planned by Shanghai Cultural Development Co., Ltd. (hereinafter referred to as: Banana Culture). Banana Culture will be responsible for the implementation of the LPL tournament in China, including the live event, on-site management, and other related work in the 2016 season. Riot Games and Tencent Interactive Entertainment will also work together with Banana Culture and the Chinese players to bring more and better LPL interactive entertainment experiences.

The statement also thanks PLU for hosting the event for three years and reaffirms the rights of individual club owners to control their own teams and brand-related materials. In the case of conflicts of interest — likely in reference to Invictus Gaming — Banana Plan staff are required to provide full disclosure and a statement at a later date.

Riot closed their statement by saying the format for this year's LPL will be announced later, and that LPL remains the only means by which teams may qualify for the World Championship in China.

Original Report:

78dian, a Chinese media site, has reported that Banana Plan, a company owned by Invictus Gaming president Wang Sicong, will produce the LPL in 2016.

According to 78dian's Fei hezi, Banana Plan won the rights to host the LPL from PLU and several other competitors. The report also suggests that Wanda Group, the Chinese conglomerate that acquired the US Theater chain AMC in 2012, may provide support in Banana Plan's efforts to host the LPL. Wanda Group is owned by Sicong's father, Wang Jianlin, who is currently the richest man in China.

"It is reported that President Wang set up the Demacia Cup with the expectation of bringing LPL into the Banana Plan fold," a translation of Fei's article reads. "As a result, he spared no expense in the implementation of the event. Wanda Group also provided resources."

Chinese eSports journalist, Ryan Luwei, corroborated the source on weibo.

"Wang "President Wang" Sicong's Banana Plan won the right to host the League of Legends Pro League from PLU's hands," Luwei said on weibo. "Although the Demacia Cup recently hosted by Banana Plan was flawed, an LPL hosted by President Wang next season is something worth looking forward to."

Despite long delays, the Demacia Cup Grand Finals in Wuhan, China was a massive event as Banana Plan invited traditional sports hosts and two Kpop groups. The event was hosted in a massive arena capable of seating 54,000 spectators.

The LPL was produced by PLU for the last three years. 78dian implies that Banana Plan will be able to significantly exceed previous investments into production and administration. As a result, it is believed that Banana Plan has the ability to make competitive League of Legends more socialized through marketing and meet the appetites and expectations of Tencent Games, the distributors of League of Legends in China.

Should 78dian's report be correct, it raises several questions about the LPL in 2016. Given that Sicong owns Invictus Gaming, his production and administration of the event as a whole may create conflicts of interest. It also makes one wonder if it will disrupt Riot's plans to exert a greater influence in competitive Chinese League of Legends going forward.

Kelsey Moser is a staff writer for theScore eSports. You can follow her on Twitter.