Summoner Tournaments

I feel that, with Riot's vested interest in tournaments as a means by which to promote League of Legends, they should attempt to incorporate some of the elements of said tournaments into the lore. By this, I mean that, from a lore standpoint, citizens of Runeterra should be watching these tournaments as a mode of entertainment (what else do they have -- destroying cities?).

Since we have moved the lore away from warring states (for the most part) I feel it would be prudent to present these "lore tournaments" as an annual test of skills for a fraternity of summoners. By doing this, you would be able to further explain the relationships summoners have to one another, how they are appointed to represent different nations, and the mechanisms by which the Institute of War works to fledgling summoners.

Now, I'm not so sure claiming, "S.K. Telecom has won the summoner's cup" would be the most effective means of translating real world events to lore, but using their initials might help with the suspension of disbelief.

Would this help with immersion into the world? For me, yes. Would this generate money for Riot proportional to the time investment of advertising in-universe events/outcomes? More than likely not.

I'm curious as to what others think on the issue of incorporating real world LoL events, such as Worlds, into the game-universe.