Riot Games has secured a sponsorship deal for the LCS with FTX, a cryptocurrency exchange that recently hit the headlines for its monster $210 million, ten-year partnership with esports organisation Team SoloMid. First reported by Dot Esports and quickly announced by Riot soon after, the deal will see FTX sponsor graphics and segments of the LCS broadcast, and will span seven years.
This monster deal is the biggest Riot has ever signed for one of its esports leagues, but it does however come after Riot barred TSM, which competes in the LCS itself, from renaming itself to ‘FTX TSM’ as part of its own ten-year deal. With TSM’s crypto partnership, and similar partnerships made by other LCS teams, being heavily policed and restricted by Riot, it is rather surprising to see it bring in a crypto brand as a long-term sponsor.
To navigate the fact that various countries and territories have different laws and regulations around cryptocurrency, the deal will reportedly include the option for Riot to turn off the FTX branding in certain areas to meet these regulations, according to Dot Esports.
“At the forefront of every LCS partnership, we consider the sentiment and interests of our fans,” Riot says in its announcement post. “This data strongly informs our decision-making process, helping us hone in on partners who are relevant to our audience and can elevate the LCS for years to come. Those metrics pointed to a direct interest in the crypto category, where FTX stands out as an innovative, thoughtful leader in a space our fans understand.”
— LCS (@LCSOfficial) August 3, 2021
While the length of the LCS’ deal with FTX was confirmed, the value is yet to be disclosed. However, it doesn’t take too much imagination to predict that it’s going to be worth many millions of dollars when you compare it to the $210 million deal that TSM secured with the same company.