I saw a picture on ArtStation that has nothing to do with League of Legends, but nevertheless sparked a theory about who LeBlanc really might be.
Ok get this guys... LeBlanc...
Is Swains' Demon
https://cdna.artstation.com/p/assets/images/images/003/646/620/large/dan-iorgulescu-intro-to-enterainment-design-week13-dan-iorgulescu-03.jpg?1476001363[/img]
I know it's crazy, but just IMAGINE it if Riot ever drops this bomb on us.
Long ago an extremely powerful demon of Plots, Deceit and Secrets (Think Tzeentch, WH40K fans) plagued all of Runeterra, sowing chaos by pitting nations against each other, brothers and sisters.... husbands and wives, until one day a woman sacrificed her soul to bind it underground where the Immortal Bastion would eventually be erected. There the demon stood for many centuries, trapped in the dark... seeing all of the opportunities to upset the natural order of the world, but unable to act out its' chaotic machinations. Along comes Mordekaiser and the demon reaches out (knowing Mordes' dead speak cuz its a demon of secrets duh) and makes a pact with the newly resurrected Warlord.
"Act as my hand and rule in my name and I will grant you the knowledge to rule an Empire a thousands times larger than one can reap through conflict".
Mordekaiser agrees and the demon reveals his enemies battle-plans, opportunities to tear alliances apart so Morde can divide and conquer and even some of those dark artifacts Morde was hoarding in the Bastion were provided by the demon.
Knowing that the demon was in part largely responsible for Mordes' success the Iron Revenant builds the Immortal Bastion at the center of his army, not just as his base of operations and testament to his might, but to build yet another cage around the demon so that Mordes' enemies could not find it and use it against him.
A rift begins to form between the demon and Morde when it becomes clear that despite the latter having all he desired, Morde would never free the demon. This is why "LeBlanc" betrays Mordekaiser.
Such tyranny could only bring him enemies. The Iron Revenant was defeated, surprisingly, by an alliance of the Noxii tribes, and betrayal from within his own inner circle. This hidden cabal managed to sever the anchors of his soul from his armor, and sealed the empty iron shell away in a secret place.
In the time between Mordes' Proto Noxus and modern Noxus we know and love, the Demon discovers that while his magically binding shackles keep him under the Immortal Bastion, unable to physically move or spiritually warp between realms, he can use illusory magic to project ephemeral forms on the surface world...the form this impassive demon chooses to take happens to be the form of the woman who long ago bound him to his place and whose skeleton still adorns the inside of that coffin.... in life they called her LeBlanc
For centuries, LeBlanc has served in secret as an advisor to foreign dignitaries, appearing in many nations at once, her illusions driving order into chaos. Rumors of a new matron rising with each generation only raise further questions—which is the “true” version of herself? When she speaks, is it with her own voice? And what will the price be, for the favor she offers?
The demon uses this form to establish the Black Rose among the Noxii tribes that would reform the empire and manipulates them throughout the ages using the reach of emperors to seek a solution to its' own imprisonment... All the way up to Darkwill.
Though the Black Rose had aided his bid for the throne, he [Darkwill] refused the counsel of their hand-picked advisors, requiring LeBlanc to take drastic measures.
But Darkwill was becoming unruly and near the end of his reign wasn't listening to LeBlanc, choosing instead to stretch Noxus thin looking for a way to extend his life, so replacing him with Swain and letting Swain believe HE was in control was a stroke of genius. Swain never dominated his demon, "LeBlanc" TRICKED him into being an unwitting pawn.
Swain is an enemy of the Black Rose and had his own parents executed to root out their corruption, this is when the demon first takes notice of the young noble
many hungered for greater influence, plotting against Darkwill in a secret cabal united by nothing more than the symbol of a black rose. Uncovering their intrigue, Swain personally executed the most prominent conspirators. Among them were his own parents, whose whispers of a “pale woman” had first alerted him of the danger to Noxus, which he valued more than house or kin. They sought a power, a shapeless voice cackling in the darkness of the Immortal Bastion. Something like a raven’s caw…
Manipulating a young nobleman named Jericho Swain into revealing the cult’s involvement, LeBlanc allowed herself to be executed along with the most prominent conspirators…
When Swain nearly gets himself killed in Ionia the demon saves him
As he lay on the verge of death, a raven approached to feed, and Swain felt an old, familiar darkness press upon him again.
Swain goes back to the Noxus "takes" the power of the demon and uses it to crush Darkwill, yet another pawn that has outlived its' usefulness. Then Swain reforms the government of Noxus so that a single ruler could never lead Noxus down the wrong path... but what if this is all the demons' doing? What if by stacking a council in its' favor 2/3 (if the Masked Lady is LeBlanc, which i mean come on... ofc it is) it has gained true control of Noxus under the guise of democracy. What if by allowing the demon in, Swain has now subjected himself to its' whispering. Leaving the Grand General thinking he is in control of his actions, but actually a thrall himself? That would be an awesome story to explore and quite the twist in my mind!