American esports giant Team SoloMid, also known as TSM, shared a statement on Twitter on Sunday (November 13) about their title sponsor FTX.
In the update, the esports organization said that they were closely following the situation surrounding FTX’s bankruptcy filing and that they had “no insight” into the matter.
Team SoloMid also said they are consulting with legal counsel for the next steps:
“TSM has been closely following the situation surrounding FTX. We have no insight into the matter beyond what has been publicly reported. We are currently consulting with legal counsel to determine the best next steps to protect our team, staff, fans and players.”
TSM claims organization is “stable and profitable” after FTX files for bankruptcy, fans react
In the final part of the public address, Team SoloMid claimed that the esports organization is “built on a solid foundation”, and that they are profitable.
The update concluded with the team expressing optimism for a successful year in 2023:
“To be clear, 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.”
The address drew more than 120 fan reactions, with some Twitter users saying that Team SoloMid should remove the FTX branding from their official handles:
Several community members expressed support for the esports group and commented:
Full Squad Gaming co-owner and esports personality Jake “JakeSucky” Lucky shared the organization’s update on his Twitter handle, saying:
The CEO and founder of Team New Age, Kirsh, wanted to know how TSM is still profitable after the team’s title sponsor filed for bankruptcy:
Twitter user @Atomicfreeze reminded the online community that Team SoloMid also owns a popular League of Legends analytics and player tracking tool called Blitz:
Another user speculated that the wording of TSM’s address suggests that the organization is looking for a new investor:
Here are some more relevant comments from fans on Twitter:
For context, FTX is a cryptocurrency trading and exchange platform that has been making headlines for the past few days.
The cryptocurrency exchange company filed for Chapter 11 bankruptcy proceedings on November 11, 2022:
Besides being the title sponsor of Team SoloMid, FTX was also a major sponsor of the Mercedes AMG Petronas Formula 1 team. After the cryptocurrency platform filed for bankruptcy, the German racing team removed all FTX branding from their F1 cars.
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