GameRivGameRiv
  • LoL
  • Apex
  • Valorant
  • Roblox
  • CoD
    • Modern Warfare 2
    • Warzone 2.0
  • Genshin
  • Counter-Strike 2
  • R6S
  • Entertainment
  • Guides
    • Trophies & Achievements
    • Zelda: Tears of the Kingdom
    • Star Wars Jedi: Survivor
    • Dead Island 2
    • RE4 Remake
    • Diablo 4
    • Hogwarts Legacy
    • Pokémon Scarlet and Violet
    • Sons of the Forest
Search
More
  • Destiny 2
  • Fortnite
  • Overwatch 2
  • CS:GO
Others
  • Teamfight Tactics
  • LoR
  • Wild Rift
  • Tech
Quick Links
  • About Us
  • Contact
  • Editorial Staff
  • Privacy Policy
© 2023 GameRiv
Reading: TSM Suspends $210 Million Naming Rights Deal after FTX Filed for Bankruptcy
Share
Aa
GameRivGameRiv
Aa
  • LoL
  • Apex
  • Valorant
  • Roblox
  • CoD
  • Genshin
  • Counter-Strike 2
  • R6S
  • Entertainment
  • Guides
Search
  • League of Legends
  • RobloxHOT
  • Valorant
  • Apex Legends
  • Call of Duty
  • Genshin Impact
  • Guides

Latest Stories

Apartment Tycoon Codes

Apartment Tycoon Codes (June 2023): Free Rewards

Anime Champions Codes

Anime Champions Codes (June 2023): Free Rewards

Roblox Splatter Blocks Codes

Roblox Splatter Blocks Codes (June 2023): Free Gems & Rewards

Stay Connected

Find us on socials
Facebook Like
Twitter Follow
  • About Us
  • Contact
  • Editorial Staff
  • Privacy Policy
© 2023 GameRiv
Home > Entertainment > TSM Suspends $210 Million Naming Rights Deal after FTX Filed for Bankruptcy
EntertainmentGame Industry

TSM Suspends $210 Million Naming Rights Deal after FTX Filed for Bankruptcy

Nawshad Noor
By Nawshad Noor Published November 17, 2022
Share
3 Min Read
TSM FTX
CEO of FTX Sam Bankman-Fried
SHARE

Esports organization TSM announced that they are keeping the naming rights deal on hold after TFX filed for bankruptcy.

In June of 2021, popular Esports org TSM signed a massive deal with crypto exchange FTX. As part of this deal, TSM rebranded itself as TSM FTX and was getting paid $210 million. FTX was supposed to complete this payment in the span of 10 years.

That means TSM was supposed to get paid $21 million per year for simply adding the name FTX into their own. At that time, it was dubbed the most expensive deal in the history of Esports. TSM also used the name TSM FTX in all Esports tournaments since then except one. Riot Games was the only developer that banned the use of the FTX logo or name on any jerseys because of their policy.

But, the partnership between TSM and FTX did not last very long, as FTX recently filed for Bankruptcy protection.

Read More: Apex Legends VTuber Beats Paypal’s Ban for Reportedly Selling Sexual Services

TSM Suspends Partnership with FTX:

In a recent Twitter post, TSM announced that they are keeping the partnership with FTX on suspension following the incident. They wrote,

“After monitoring the evolving situation and discussing internally, we’re suspending our
partnership with FTX effective immediately. This means that FTX branding will no longer appear on
any of our org, team, and player social media profiles and will also be removed from our player
jerseys. This process may take some time to complete as some social platforms have made changes
to their product features. TSM is a strong, profitable, and stable organization. We forecast profitability this year, next year, and beyond. The current situation with FTX does not affect any part of TSM’s operating plan, which was set earlier this year.”

We've suspended our partnership with FTX effective immediately. pic.twitter.com/u8vQSWnAbX

— TSM #TSM100 (@TSM) November 16, 2022

This means that all TSM FTX jerseys and player social media profiles will soon revert back to just TSM.

Read More: MrBeast Surpasses Pewdiepie in Subscriber Count, Taking the Number 1 Spot on YouTube

Sign Up For Our Newsletter

Get the latest updates on Esports and Gaming delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share

Latest

Apartment Tycoon Codes
Apartment Tycoon Codes (June 2023): Free Rewards
Codes Roblox
Anime Champions Codes
Anime Champions Codes (June 2023): Free Rewards
Codes Roblox
Roblox Splatter Blocks Codes
Roblox Splatter Blocks Codes (June 2023): Free Gems & Rewards
Codes Roblox
gameriv gameriv

Esports, Gaming, and Entertainment News

Popular

  • League of Legends
  • Guides
  • Valorant
  • Apex Legends
  • Game News

Quick Links

  • About Us
  • Contact
  • Editorial Staff
  • Term & Condition
  • Privacy Policy

  © 2023 GameRiv

 

Welcome Back!

Sign in to your account

Lost your password?