What happens to G2

What happens when their franchising agreement for the 2 years or something ends?
Do they have to win champs to stay or what?

No they're fine as long as they make champs next year

Those changes are only for 2024 ascension teams and above and (hopefully) m80, or anybody else

Correct me if I am wrong but for the 2025 or the 2026 season partnered teams are going to be renegotiated so there's a chance that G2 get picked up as a team for franchise

I think G2 will be part of the franchised teams in 2025/2026