Im a PRX fan so take this with a pinch of salt cuz i might be a bit biased BUT
I would say PRX got a higher chance at it due to two main things, fame and skill
Fame- It aint wrong to say PRX are at a point where they are slowly growing into an international name with the name popping out a number of times across the world, plus they have that team dynamic and team system ( as in how the staffs and the players work together, creating a harmony, unlike BLEED who are still experimenting with their team as they keep pulling in and out players, not really sticking to anything YET ) which is what RIOT would also want
Skill - Well i do not think i gotta explain this part, but while they can get counterstratted, the main thing i want to highlight is the excitement and just sheer amount of fun and hype one can enjoy watching them, time after time, clutch after clutch, play after play, it is a literal highlight reel in tournament form.
Money - While BLEED do have a shit ton of money meaning they have that enormous edge over PRX as an organisation, they lack alot of other fundamentals like fanbase, a solid team that is not shaky ( experimenting still so ya ) and a support staff as solid as PRX ( this is an assumption but considering how the team is right now, its the only thing i can come down to ), and even then if they were able to join the franchising league, it will probably be the year after or split after cause PRX just have that global support and infastructure behind it that make it more viable and favourable compare to a Rich ORG that while have alot more potential on paper, have not yet been able to pull their shit together yet.