The year 2021 has been a crazy ride for the esports organizations and their fans. New collaborations and brand deals are rolling out every day, every week. Earlier last month, the American esports giant, Team Solo Mid (TSM) announced their naming rights deal partnership with the online cryptocurrency exchange platform, FTX.
The deal was signed for a record-breaking price of $210 Million American Dollars for a time period of 10 years ($21 Million Dollars per year). After this partnership deal, the overall worth of Team Solo Mid escalated quickly to $410 Million US dollars and became the most valuable esports organization in the world.
Now, LCS has signed a 7-year long sponsorship deal with the online cryptocurrency exchange platform, FTX. Though the financial terms of this agreement weren’t disclosed.
“We’re proud to announce that FTX is the Official Cryptocurrency Exchange of the LCS. Our seven-year partnership with FTX represents the largest sponsorship agreement Riot has ever signed for an esports league.”
Starting this weekend, fans will notice FTX branding on the LCS broadcast around the most valuable currency in League of Legends: Gold. Player net worth, total team gold and those rollercoaster gold graphs will all be presented by FTX. Additionally, FTX will directly sponsor the LCS Most Improved Player Award, to be voted on by a cross-section of Rioters, media and team representatives.” LCS said in a press release.
“It gives us a strong foothold to really grow our brand globally, We want to truly be a global esports team. We have to invest in having bases in multiple places.” said TSM CEO Andy ‘Reginald’ Dinh at the time of announcing the TSM – FTX naming rights deal.