TSM exiting esports? TSM to sell its LCS franchise spot according to sources – Team SoloMid, or TSM is one of the oldest esports organizations in North America. But rumors suggest TSM might be halting its esports ventures for the foreseeable future. Here is everything you need to know about this issue.
TSM exiting esports? TSM to sell its LCS franchise spot according to sources
TSM has fielded rosters in many esports titles like League of Legends, Fortnite, Rainbow Six: Siege, VALORANT, Apex Legends, etc. The teams have also performed successfully and brought many titles to the organization’s name throughout the years.
A report states that TSM could be halting several of their esports rosters and potentially putting their LCS spot for League of Legends up for sale…
(Per @SBJ) pic.twitter.com/1zC9eS0UBH
— Jake Lucky (@JakeSucky) March 31, 2023
But it seems that all is not well with TSM. According to the article by Kevin Hitt in Sports Business Journal, TSM is looking to pause most of its esports efforts for the foreseeable future. They may even go forward with selling the League of Legends Championship Series (LCS) franchise spot.
As per the article, TSM took a big hit when the crypto-trading platform FTX went bankrupt. TSM and FTX had a 10-year $210 million USD deal for naming rights. This lucrative offer got scrapped with FTX shutting down.
After FTX’s fall, TSM tried to assure everyone about its situation through an official statement. “TSM is built on a solid foundation. We are stable and profitable, and we continue to forecast profitability for this year, next year, and beyond. We look forward to a great year in 2023.”
But the signs of the organization’s dire straits were also becoming visible. In February, TSM’s COO left the organization, and its world champion Rainbow Six: Siege esports team also disbanded, leaving the circuit entirely. There are even rumors suggesting TSM asked its League of Legends players to accept a minimum salary within 24 hours which resulted in their mid-laner Solo leaving the team.
TSM is committed to esports
We’re planning to enter CS:GO sometime later this year which is a larger investment than all of the games we’ve left combined
TSM is always evaluating what esports ecosystems are best to invest in and will continue to enter & exit games
— TSM Reginald (@TSMReginald) April 1, 2023
According to rumors, TSM might instead look at focusing on and developing its Blitz application. It is a subscription-based app that helps players learn more about co-op games like League of Legends, VALORANT, etc, and improve their gameplay.
Reginald from TSM has responded to these rumors and said that the organization is committed to esports. They may even enter CS:GO circuit with a new team. TSM is currently evaluating different esports ecosystems and deciding where it is best to invest.
Stay tuned to us as we bring to you the latest updates regarding it and other news from the esports industry.
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