Competitive League of Legends will be getting a new Mid-Season Invitational (MSI) event which pits teams from the five major regions against one another. Teams from elsewhere in the world will be getting a separate multi-region event in which to duke it out.
The Mid-Season Invitational will take place in the period between each global region’s spring and summer split. If you’re not familiar with the terminology, splits are periods of weeks over which a number of matches are played between regional teams. It’s kind of like a football season and there are similar opportunities for promotion into the league from the Challenger series, relegation and player transfers.