K1 League has announced five more teams for its inaugural season as well as the prize distribution and schedule for the event that is spread out to over a month in Shanghai.

We already reported Natus Vincere and TyLoo being the first two invited teams in the past weeks but the organizers have now finalized the invitations of four additional Chinese squads. The last two teams will be announced in the coming days.

Natus Vincere	(ceh9, Edward, markeloff, starix, Zeus)
TyLoo	(KingZ, Mo, Savage, tb, xf)
ETeng	(forget, HZ, PiPi, Rita, songxiao9)
TFE	(hjxz, machael, meteor, muziwei, zero)
MRD	(lovezhu, qhz, qz, Richie, Vincent)
H5	(bbg, chouchou, cy1, senlinge, z8z)

The event will be played over the course of six weekends with the group stage taking place over the first four weekends while an all-stars match and the playoffs will finish on the last two weekends.

According to the organizers Natus Vincere is likely going to be placed in group B which means they would have to arrive in Shanghai by June 9. However, this would mean their matches would collide with DreamHack Summer which they just got invited to, making it impossible for them to attend.

Savage's TyLoo seems like Na`Vi's toughest competition so far 

Eight teams will be divided into two groups of four where each team will play one another twice in a best-of-one format, resulting in a total of six matches for each team. Winner of each group and the second placers will advance to playoffs which will be played out in a single elimination, best-of-three format.

Prize distribution:

1. 100,000 RMB (~$15,800)
2. 50,000 RMB (~$7,900)
3. 20,000 RMB (~$3,100)
4. 10,000 RMB (~$1,550)

On top of the prizes, the organizers of K1 League will provide flights and accommodation for all eight invited teams. K1 League plans to give out a total of 600,000 RMB ($95,000) during 2012 which will also feature a grand final event with a prize purse of 240,000 RMB ($38,000), of which 150,000 RMB (over $23,000) will go to the champions.