Team SoloMid (TSM), an esports team organization, announced signing a 10-year, USD 210 million naming rights deal with FTX Trading Limited and West Realm Shires Services, which own and operate FTX.com and FTX.US, respectively. The deal is considered to be one of the largest publicly disclosed sponsorship deals in esports history. 

FTX.US will serve as TSM’s partner across the US, while FTX.com will be its international partner. As a result of the transaction, TSM will be known as TSM FTX across all competitive titles. TSM will use the funds to execute a five-year expansion plan, during which it will open offices in Asia, Europe, and South America and expand its mobile gaming platform. 

Parallel to news of the agreement, the controversial nature of sponsorship deals with crypto exchanges has come under fire. Such deals restrict activations in certain leagues, particularly impacting Riot Games, the ultimate IP owner, similar to other video game developers with respect to esports leagues based on their games, such as League of Legends and Valorant. Following the sponsorship, TSM’s new name, TSM FTX, nor the FTX brand will be featured on jerseys during the League of Legends Championship Series or other Riot Games esports across North America.

Founded in 2009, Team SoloMid (TSM) is the most valuable esports company globally as of 2020, valued at USD 410 million. TSM fields teams in esports titles such as League of Legends, Rainbow Six, PUBG, and Valorant.