Despite selling their LCS spot to Team Vitality, Gambit Gaming is looking to stay in League of Legends, the organization announced Saturday.

Earlier this week, Team Vitality announced that they had purchased Gambit's spot in the EU LCS, which led some to assume that Gambit was stepping away from League of Legends.

However, Gambit says that the money they made from the sale is funding a new LoL roster as well as other eSports.

"The majority of the funds acquired from the sale of our spot will be reinvested into our project," the organization stated in a press release.

"We intend to create a new League of Legends roster, as well as rosters in other disciplines. Our main goals in 2016 are – improving our fan interaction, changing our player management system, as well as acquiring a sufficient volume of sponsorship funds."

In their announcement, Gambit stated that they made the decision to sell their LCS spot because of their team's weak performance over the last two years, which meant they couldn't raise enough funds to keep the team going.

"Multiple organizations in Europe and North America received a backing from multimillionaires," the organization stated.

"New organizations due to their unlimited financial resources are changing the rules of the game. Yes, it is a positive sign for viewers and an entire scene, but there is a side effect – the majority of old organizations will eventually disappear, since they simply won't be able to keep up from a financial standpoint, even if they show good results."

Over the last few weeks, some members of Gambit's 2016 Summer Split lineup have announced their future plans. Konstantinos "FORG1VEN" Tzortziou will be playing for H2k-Gaming in 2016, and Edward "GoSu Pepper" Abgaryan is a free agent but says he will be playing in the LCS next season.

Daniel Rosen is a news editor for theScore eSports. He feels like Remy Lebeau could potentially make a great caster. You can follow him on Twitter.