Riot Games wants to end its FTX sponsorship for League of Legends. This is only a year into the seven-year agreement the two companies had for LCS sponsorship.

This piece of news comes courtesy of Molly White, creator of Web3 is Going Just Great. White explains the motion that Riot Games filed in the court handling FTX's bankruptcy case in a thread on Twitter. The contract is worth $96 million, and would supposedly last for 7 years. The sponsorship would see FTX promoted during the LCS as its official cryptocurrency exchange. In the motion, they brought up FTX's failure to pay the $6,250,000 it owed Riot for 2022. They said that they were “hurt financially by the failure of FTX to pay its remaining 2022 obligations, totaling $6,250,000.” Riot also brought up the $12,875,000 that FTX needs to pay for 2023. They also mentioned that they wouldn't be able to find a replacement partner in time for 2023, which would deal even more financial damage.

Other than financial damages, Riot also brought up the non-monetary damage they suffered. To be exact, they brought up how FTX's former CEO, Sam Bankman-Fried, impacted their reputation. While his company was crashing, images of Bankman-Fried playing League of Legends appeared online. This is not something new, as Bankman-Fried is already well-known for playing League of Legends during investor meetings. Riot believes that this link between Bankman-Fried, FTX, and League of Legends is causing damage to Riot's reputation. Although people first thought of his League playing as “relatable and human”, Riot now sees it as “reckless and juvenile.”

Article Continues Below
Related Gaming News
Pacers vs. Knicks Game 5 Results According to NBA 2K25
Pacers vs. Knicks Game 5 Results According to NBA 2K25Massimo Marchiano ·
Timberwolves vs. Thunder Game 5 Results According to NBA 2K25
Timberwolves vs. Thunder Game 5 Results According to NBA 2K25Massimo Marchiano ·
Brawl Stars Kaze Guide - Best Setup For Ultra Legendary Brawler
Brawl Stars Kaze Guide – Best Setup For Ultra Legendary BrawlerMassimo Marchiano ·
College Football 26 Reveal - When & Where to Watch
College Football 26 Reveal – When & Where to WatchMassimo Marchiano ·
F1 25 My Team Guide For Beginners
F1 25 My Team Guide For BeginnersMassimo Marchiano ·
Ohio State Buckeyes wide receiver Jeremiah Smith (4) celeb rates a first down catch beside Oregon Ducks defensive back Kobe Savage (5) during the first half of the College Football Playoff quarterfinal at the Rose Bowl
Jeremiah Smith’s instant reaction to CFB 26 coverScotty White ·

It would also appear that there is another reason why Riot wants out of the deal. In the motion, they mentioned that the deal is preventing them from “commercializing the crypto-exchange sponsorship category and the broadcast assets owned by FTX.” In other words, one of the reasons Riot wants to end this agreement is so they can find a replacement crypto-exchange sponsor. While expected, it is personally kinda disappointing.

Either way, we can expect that we will no longer be seeing FTX ads during the LCS. We'll just have to wait and see if Riot will find a different crypto-exchange sponsorship.

For more gaming news from us, you can check out our gaming news articles.