Why is the NA server located on the West Coast exactly?

I'm, legitimately curious. What was Riot's motivation for locating a nationwide server on the very edge of the ocean rather than in a centralized location? It doesn't make sense to me. Unless there is some sort of favoritism towards Californians or something, I can see absolutely no reason why I have to connect to a server that's literally on the opposite side of the continent.

And also, why haven't the servers been moved to a centralized location after Riot became a big company with loads of money? And don't tell me they can't afford it, I KNOW they have the cash. I would have thought with S5 they would have tried to improve servers some but I have only seen bigger packet loss and higher ping that is ONLY associated with League.

If all the E$port$ tournaments were all held on the East Coast for example, do you think that the lag there might affect the performance of the top teams? I notice that the LCS and stuff are held in a local area LAN network, almost like Riot is not confident enough in their public servers to use them officially for anything. That's not a good thing >_>