Team SoloMid (TSM) may be looking at selling their spot in the League Championship Series (LCS). According to a report from the Sports Business Journal, TSM is looking at putting a pause on some of their esports teams and putting their lucrative LCS spot up for sale in order to find financial stability. TSM is one of two organizations to have competed in every season of the LCS since its inception in 2013.
In February, TSM dropped their Rainbow Six (R6) team and withdrew from the scene without much reason. The R6 team was fairly successful having won five trophies and a world championship in three short years. TSM currently holds teams/players in VALORANT, League of Legends, Apex Legends, Fortnite, Super Smash Bros. Melee, Teamfight Tactics, and Dota 2. Along with the esports teams, TSM also has a large number of content creators helping to push the brand. The Sports Business Journal article did not state which of the remaining teams in TSM’s portfolio are in danger of being cut.
The last couple of years have not been kind to TSM. TSM signed a $210 million naming rights deal with crypto exchange FTX; the deal has since fallen through with the bankruptcy of FTX. Adding to the fallout from the FTX deal, TSM has been plagued with toxic workplace complaints filed against TSM CEO Andy “Reginald” Dinh, and has lost many high-ranking employees including VP of Esports Operations Dominic Kallas and COO Walter Wang, as well as League of Legends General Manager Yang ‘Glen’ Po-Jen and team manager Chien-Yu ‘Kristine’ Huang. Dihn states he will provide another update on the state of TSM in the coming months.
Image from: TSM
