The company told Dot Esports yesterday that Riot Games will not allow TSM to use the name of its new cryptocurrency exchange sponsor FTX in broadcasts of League of Legends and VALUING.
TSM will continue its partnership with FTX, taking the name “TSM FTX” on social media and other games where the restrictions do not exist.
A name and jersey sponsorship with FTX at Riot events would be in violation of the developer’s guidelines on partnerships with crypto exchanges. While the LCS have approved TSM to continue its partnership, the league has placed restrictions around the use of the mark. TSM’s name will not change on the broadcast. TSM players in LCS or on other TV shows LoL or VALUING will not be allowed to wear jerseys with the FTX logo.
“The sponsorship deal between TSM and FTX does not violate any LCS sponsorship rules, but cryptocurrency exchanges fall under the category of sponsorships that have activation restrictions,” Riot America’s esports manager tells Dot Esports from North and Oceania, as well as LCS commissioner Chris Greeley. “As a result, the new FTX brand name and placement agreement on TSM jerseys will not apply to LCS or other Riot Games esports in North America.”
The exclusion rules of LoL and of VALUING were made specifically for the original contract with FTX, according to a representative at Dot Esports. But in press releases and communications with the media on the contract, no information on these rules was given. On social media, TSM staff said that players from LoL and VALUING would bear the new name of the in-game team.
“FTX will continue to sponsor our players from LoL and VALUING through social content, live streaming and IRL events, which have more visibility than Riot streaming, “Dinh wrote on Reddit.
TSM announced the partnership with FTX, a 10-year, $ 210 million contract for name rights to the organization. The contract is TSM’s first since 2013 to change its name, when it partnered with Qualcoom to name itself TSM Snapdragon. This is one of the most important sponsorship deals for an esports team that has been publicly revealed.
Riot has strict bans on certain sponsors and categories, including crypto exchanges, betting, and pornography. He previously banned teams from displaying their sponsorship with a beer brand before entering into his own partnership between LCS and Bud Light in January 2020.