I don't know if They've ever said anything but I think it would be a wonderful idea to keep SRL as a custom game mode so even after the event is over we can still mess around with the gear and cool sparrows because who's gonna keep using armor that only has one perk that helps you drive a sparrow? Like i said i don't know if they've ever covered this topic but I just want to bring it up.
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It will... you just can't use it in Private Match to earn your Class S license.