i don't understand franchising

so i have a question it may seem dumb but consider me ur little bro since i don't really understand riot and their esports system (or really any other esports i started watching in 2020 tbh)
some users are very certain about franchising slots saying saying that LOL franchised teams will probably get a spot or bcz of the how big the fanbase of the org is, it may be a helping factor.
So i want ask what else does riot consider when they accept an org? and coming to my main point is teams like Acend with not so big fanbase and newly formed; so no LOL team too can get a chance in it, and do they consider their achievements like the champions of 2021 to be of any weight ?

don't care the game is about to be dead anyway

dw if acend doesnt make it some org will probably take the roster

This is what journalists are saying and I have tried to put it in priority order:

1.Financial stability
2.Fanbase (Viewership and hype generated)

3. Relationship with Riot (with them in other games do riot just like or dislike them)
   4.Commitment (will stick around and invest for a long time)
   5.Good image (Riot doesn't like gambling related things and scandals)
   edit: Fuck the formating

I don't know if they will take past achievements as much in consideration, of course, if for example xset wins out for the rest of the year with masters and champions wins I expect them to get in, but the plan for franchising is long term, so they will try to get the orgs with biggest fanbase and that have invested in riot/valorant for a while, because they know that sooner or later those orgs will end up with the better teams (even if they're shit right now like KC or KOI)

Also acend is kinda fucked because theyre related to gambling