I have deduced that the new champ must be a tax collector

https://www.youtube.com/watch?v=eyYjzX1CQDo

There are two certainties in life, death and taxes. Both are shunned, but taxes are more shunned than death. So he made a friend that people would like, something he could hide in. The wolf is the one who collects taxes and the sheep is your refund or a social welfare payment.

Following this logic, he was inspired by eve online and his passive lets him take 1 RP from the people he kills or gets an assist on. If he wins the game, wolf keeps them, if he loses, sheep gives twice that amount back. Riot created him so that people would learn not to feed.