A few days ago, TSM announced an absolutely massive 10-year, $210 million deal, one that will see the organisation renamed TSM FTX. The deal is with Hong Kong-based cryptocurrency exchange FTX, and the deal will see the esports team renamed for the next decade.
The deal was announced over TSM's Twitter feed, in a post that was captioned "We've just signed the largest deal in esports history." This is quite a huge development, as this is in the same ballpark of money that professional sports teams are paid for the naming rights of their stadiums, as The New York Times reports. Even though this deal is for the naming rights of the team itself, TSM is still earning $21 million a year via this deal.
The deal has not gone without hiccups however, as Riot Games has barred TSM from renaming its League of Legends Championship Series and Valorant team TSM FTX, due to the developer's guidelines around cryptocurrency partnerships and deals, as Dot Esports reports.
TSM founder and CEO, Andy Dinh did comment on this decision via Reddit, where he stated, "The deal carves out name on broad cast and jersey logo on both league and Valorant. But FTX will still be sponsoring our league and Valorant players in content, social, live-streaming and in person events. Which has more visibility than riots broadcast."
What do you think about this monster deal?