esports: FTX (cryptocurrency), title sponsor of Team SoloMid (USA) for $210m (€172.7m) over 10 years

FTX Trading Limited and West Realm Shires Services Inc, owner and operator of the cryptocurrency trading platforms FTX.com and FTX.us respectively, have become official partners and title sponsors of Team SoloMid (TSM), which will now be known as "TSM FTX" from 2021 onwards, announced the US esports organisation on 04/06/2021.

As reported by TSM FTX, the deal is worth $210m (€172.7m) while the partnership is reportedly set to last for 10 years (2021-2030), equating to $21m (€17.2m) per year, according to today's US media reports. It is the most expensive sponsorship deal ever made in esports, according to specialised media.

As part of the agreement, "TSM FTX will distribute cryptocurrency to each of its players and employees as well as purchasing $1m in FTT, FTX's native token." FTX became title sponsor of the Miami Heat (NBA) Arena for $135m over 2022-2040 on 23/03/2021 (see below).

TSM FTX is the most valuable esports organisation in 2020 according to Forbes ($410m, as of 05/12/2020). The Los Angeles (California, USA) based organisation has 6.66 million followers on its social…