World’s biggest sports company ‘considers legal counsel’ for FTX bankruptcy | Media Pyro


Team SoloMid, one of the most successful esports organizations in the world, is known as TSM. But it’s known as TSM FTX, thanks to a $210 million naming rights deal signed in 2021 and the massive FTX cryptocurrency exchange—yes, the same FTX that collapsed into bankruptcy. (opens in a new tab) last week.

The terms of FTX’s sponsorship deal called for it to pay TSM $21 million annually for 10 years, according to the New York Times (opens in a new tab) report, an important role similar to the supporters of the theater in traditional sports. “Taking over a large company will also change in the digital world: this is what sports are to sports, and what crypto is to investment and finance,” said the CEO former FTX Sam Bankman-Fried at the time.


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