We still don't have any nice icons to display in front of all of these changes, but we're expecting Teamfight Tactics developers to release them soon. Sorry for the form of what follows, we will update it properly as soon as we know more about the subject!
New items
Spatula + Needlessly Large Rod
• Wearer gains the Inferno trait.
Spatula + Negatron Cloak
• Wearer gains the Light trait.
Spatula + Sparring Gloves
• Wearer gains the Berserker trait.
Spatula + Tear of the Goddess
• Wearer gains the Mage trait.
Spatula + Chain Vest
• Wearer gains the Warden trait.
Recipe Changes
Removed from the game.
Recurve Bow + Negatron Cloak
Stat Changes
Basic Items
• 20 Armor → 25 Armor
• 20 MR → 25 MR
• 20% AS → 15% AS
• No longer give double stats.
Combined Items
• +50% AP → +75% AP
• 75% magic reduction → 50% magic reduction
• 5% Max HP true damage → 8% Current HP
• 500HP on revive → 400 HP on revive
• 125 true damage → 100 true damage
• 180dmg → 150dmg
• Gains 2% max hp true damage on hit in addition to its burn
New Items Balance Changes
• Bonus Damage reduced: 75 → 60%
• Hurricane now grants one extra bolt per Hurricane
• Damage per bounce reduced: 120 → 100
• Increased average value of items at level 8 & 9
Several new champions, origins, and classes have just been revealed! They will be implemented in Teamfight Tactics alongside Set 2 — Rise of the Elements.