User blog comment:Willbachbakal/Poll: Implement a Champion Creator in LoL/@comment-9713132-20121216111945/@comment-5331854-20130809091810

Old comment is old.

While there is much potential money for Riot in this idea (and wasn't Viktor inspired by a player in the first place?), there is also the need for big investions. First, it needs a big, one-time investment to make the system itself (and doing a half-baked work would ruin it for both the players and Riot). Second, it needs a constant flow of money to pay some people who would test the upvoted champs and propose viable champs to the design department (which is more work than you think). And because Riot still wants to release their own champs, they have to limit themselves to a small pool of "canonized custom champs". There's only so much money you can gain from this and it's risky.

Still, it would be nice. Depending on the size and complexity of the Creator, you can even create whole new custom games based on custom champs who are tailored towards it.