The LCS Announces New Seven-Year Sponsorship Deal with FTX
The LCS has confirmed a new partnership with FTX, according to sources. This alliance comes shortly after the LCS prohibited TSM from incorporating FTX in its name, even after TSM signed a massive $210 million deal with the exchange. Although TSM has adjusted its social media handles and allowed FTX in certain titles, it continues to be known as “TSM” in the LCS.
What Does the Deal Entail?
In this agreement, Riot Games has the option to remove FTX branding from its international broadcasts in regions with strict cryptocurrency regulations or other considerations. This sets it apart from TSM’s deal, as TSM’s new logo and jersey patch cannot be removed on demand.
As part of the partnership, FTX will sponsor various LCS segments and graphics, including the most improved player and gold-related graphs and statistics. FTX joins a list of prominent LCS sponsors such as Mastercard, Bud Light, Grubhub, and ROCCAT. Financial details of the deal have not been disclosed, but an official announcement is expected in the coming weeks.
FTX’s Expanding Reach
This year, FTX has been actively investing in sports and entertainment. It secured the naming rights partnership for the Miami Heat’s home arena, making it the first cryptocurrency exchange to achieve such a deal. Additionally, FTX added NFL legend Tom Brady and supermodel Gisele Bündchen as shareholders. The company also inked an agreement with MLB, resulting in baseball umpires displaying the FTX logo on their sleeves. Recently, FTX has made a foray into the non-fungible token (NFT) space within sports and entertainment.
About FTX
San Francisco-based FTX operates two separate cryptocurrency exchanges, FTX and FTX.US, and has its own digital currency called FTX Token (FTT). Its American platform is a limited version due to specific U.S. cryptocurrency regulations. In the past month alone, FTX.US has facilitated over $2 billion in cryptocurrency trades.
While certain cryptocurrency exchanges and coins are restricted from sponsoring LCS teams, FTX’s involvement is permitted within the league’s guidelines. However, similar activation restrictions to TSM’s deal remain in place. Other prohibited sponsorship categories in the LCS include gambling, wagering, fantasy sports or esports, firearms, tobacco products, pornography, and hard liquor and spirits (though beer is currently allowed).
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