The orgs that I can Think off are :-
TSM
FAZE
G2 ESPORTS
Optic
For me the most likely options are rather G2 or Optic. Faze just dropped out of Valorant and with how their financial situation is right now, I doubt they would want to return, most likely going to persue other options in other games. TSM I have 0 clue, they could but I think their attention rn is on their new CS roster so they are still an option but I think unlikely. G2 already were technically approved for franchising and only fucked themselves up with the CEO/Tate incident, but now that they have a new CEO and the fact that they just nuked their roster in challengers, I think they are definitely the most likely. Optic dont have a pre-existing challengers roster atm so they are also likely, I just don't know whether they are ready to rejoin valorant just yet though.
G2 and FlyQuest are the only viable options. Faze's financials are shit, riot doesnt like TSM, I dont think optic wants to get back into valorant but I could be wrong. Saw many people saying complexity but i dont think they're interested and riot will definitely give higher priority to an LCS org like FlyQuest or a huge fanbase and stable org like G2 over Complexity who doesnt bring anything special to the table. I do want to see a kind of DSG-MxM merger but dont know how possible that is.