TSM releases Academy roster amid FTX bankruptcy

Everyone knew changes and budget cuts were imminent in the LCS, but it seems TSM have gotten the worst out of it.

The talk of the offseason in competitive League of Legends has been the shift in priorities among esports organizations. Most LCS teams are scaling back on their spending, to properly fund the Valorant franchising process. This is completely understandable given the downward spiral LCS viewership has been in these last few years. But it’s not just poor international results and failing to maintain an audience that’s hurting LCS teams.

TSM sponsor FTX announces bankruptcy 

One of the largest cryptocurrency exchange platforms, the FTX Group, has just declared chapter 11 bankruptcy. If you are not in the loop with crypto news, this is much more than an industry issue. While investors and customers continue to count losses from the sale of FTX and its 130 affiliated companies, TSM remains silent. 

This comes just 15 months after TSM and FTX signed a sponsorship deal worth over $220 million, including the naming right over the next 12 years. FTX had done a similar deal with the NBA organization Miami Heat, to acquire naming rights for their arena. And while construction workers are already taking off the FTX Arena signs from the top of the roof, TSM is yet to make a move. 

This comes just a month after Dominic Kallas, Vice President of Esports at TSM, announced that the organization was looking to return to CS:GO competitions after a five-year absence. It’s no secret that TSM’s planned expansions relied on FTX continuing to cut a $20 million check every year. After all, their partnership made TSM the most valuable esports organization in the world according to Forbes, measuring at over half a billion. 

Team Solo Mid release their Academy roster

But while no one is certain about TSM’s liquidity, their front office is already busy making moves.  The official TSM Twitter account, which still bares the FTX branding, just announced the organization will be releasing the entire Academy roster. This includes players like:

• Top laner Solo
• Jungler Anda
• Mid laner Takeover
• Bot laner Instinct
• Support MIA and
• Head Coach Xmithie

The timing of this is not surprising, as much as the approach the organization has taken. TSM  are contractually obligated to Riot Games and the LCS, to field an Academy team. If the reports of minimum wages and no housing provided are true, then we can expect to see even bigger changes within the main team. TSM has failed to qualify for the World Championship for two straight years, and their last appearance was the 2020 record-breaking 0-6 run as the region’s first seed. 

Since then the team has cycled through coaches, imports, and young players on top of the monthly dose of TSM controversy. Given the obvious financial struggle we are witnessing, it will take some time before TSM regain their former glory. 

Header: Twitter/ TSM FTX