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According to a report by Dot Esports, Riot Games won't permit LCS heavyweights, TSM, to use the name of their cryptocurrency exchange sponsor, FTX, in League of Legends and Valorant broadcasts.
However, the USA-based team can continue using the "TSM FTX" tag on their social media handles and for other games like Fortnite, Overwatch, Hearthstone, and Clash Royale.
According to Riot, displaying the FTX brand name on TSM's jerseys would violate their event guidelines. The organization has strict regulations over cryptocurrency sponsorships. TSM will, therefore, play League of Legends LCS Summer without having their sponsor's name printed on their shirts.
Players who will be a part of TSM's Valorant and League of Legends team won't be allowed into Riot's competitive scene wearing jerseys that bear FTX's Logo.
"We don't currently permit crypto exchanges on jerseys or as naming partners" - Riot Games' head of esports on TSM-FTX sponsorship deal
Riot Games' head of esports for North America, Christopher Greeley, has explained exactly why TSM could not use FTX's label in League of Legends and Valorant broadcasts.
He told Dot Esports that even though the sponsorship deal between TSM and FTX does not break any LCS rules, partnerships with cryptocurrency exchanges fall under a category that has activation restrictions.
Addressing the situation, TSM's founder and CEO Andy "Reginald" Dinh said in a Reddit post:
"The deal carves out names on the broadcast and jersey logo for both League and VALORANT, but FTX will still be sponsoring our League and VALORANT players in content, social, live-streaming, and in-person events. Which has more visibility than Riot's broadcast."
TSM recently announced their official 10-year naming rights tie-up with FTX, worth $210 million.
This is TSM's first naming rights deal since they collaborated with Qualcomm in 2013, when they were known as "TSM Snapdragon."
Riot has strict regulatory bars in certain categories of sponsors like cryptocurrency exchanges, gambling, and pornography. They also had restrictions on beer sponsorships until January 2020, when LCS signed their own deal with Bud Light.
