Wait, are you saying you don't know what I mean regarding "negative space" or you know what I mean but don't agree?
I know these pics are from 2 different angles, but does this help?
There's more red in the middles of the "O" & "D" is what I meant by negative space.
Also, I didn't highlight it, but look at the bottom of the "A" the ebay (left) one has red separating it.
Looks like a legit later Champion that was customized.
I was referring to spaces between letters but your explanations are awesome