What is franchsing?

There you go:

"Franchising is where a team pays x amount of money for a permanent spot in the event (in riot’s case it’s pseudofranchising so orgs don’t pay). This benefits the orgs because they have the threat of open circuit where they can lose and not have events for months which makes the orgs get no return on their investment. With having a permanent spot in the league they get a return on their investment. However franchising has it's downsides because with only 6 teams the game risks becoming stagnant with the same teams playing each other. Also open circuit system is gone which means there will be no DHBK (Kooky koalas) or The Guard storylines. Another downside of franchising is that it affects the tier 2 scene greatly. Tier 2 orgs won't be able to afford the spot in the league and they will be locked out of real Tier 1 competition and I believe that in order for valorant to not become it is ESSENTIAL that the tier 2 scene is supported so that new players can enter the league. T2 overwatch is dead and riot must learn from OWL's mistakes in order for the game to succeed from franchising."

thank you