· Ranked teams: Summoners can now rally their friends and compete under the same banner, with a shared Elo rating that reflects their performance as a competitive unit – making it easier than ever to make a splash on the competitive scene and try for a piece of the $5 million prize pool.
· Brand new competitive website: A new interactive website (available at http://competitive.leagueoflegends.com/) chronicles the excitement of competitive League of Legends through coverage of the Chellenger Circuit (the professional league), as well as Ranked ladders and a full schedule of prized events (many of which are open to all comers)!
· New summoner spells and masteries: The League of Legends Mastery system has been refined, and Summoner Spells have received some major changes for Season Two.
· Spectator Mode open beta: League of Legends’ Spectator Mode is now available for public testing in custom games.
As part of the announcement, Riot has issued a new video for the world to see: