TSM commented on the news of the bankruptcy of FTX - its title sponsor

North American esports organization TSM broke a two-day silence to comment on the news of the bankruptcy of FTX, its title sponsor. According to the club, they do not have any information about FTX's internal affairs. However, TSM lawyers are currently considering options for future action to minimize possible damage.

Along with the rest of the world, TSM is closely monitoring the FTX situation. We have no idea about this issue other than what has been publicly reported. We are currently in legal consultation to determine the best next steps to protect our team, staff, fans and players. To be clear, the TSM Club is built on solid foundations. We are stable and profitable, and we continue to forecast profitability for this, next and beyond. We look forward to a great 2023.

As a reminder, the TSM organization concluded the largest deal in esports with FTX in 2021 in the amount of $210,000,000. As a result, the cryptocurrency exchange became the title sponsor of the club, and also received the rights to the name of the organization.

It is unclear how the fate of FTX will affect TSM's future plans for expansion, as the club was looking to return to the CS:GO discipline next year and strengthen its presence in Europe. However, the organization has assured fans that it has sufficient funds and other sources of income, so FTX's bankruptcy will not leave TSM without money.

On the eve of the bankruptcy of FTX, the Brazilian organization FURIA decided to terminate the partnership agreement with the cryptocurrency exchange. FTW also currently has a seven-year contract with the League of Legends Championship Series (LCS) - the fate of the deal remains unclear.