Team Solo Mid is the most successful and powerful US team in League of Legends. TSM has won 7 out of 20 championship titles in the LCS. For 8 years, the organization relied on superstar Bjergsen. But in 2023, the team appears to be facing extinction. Due to the bankruptcy of a crypto bank, the organization is reportedly planning to sell its professional slot in the LCS. This was reported by an insider report. Fans are horrified, and the CEO remains silent.
This was the news:
- On March 31, “Sports Business Journal” reported that TSM plans to sell its professional spot in the LOL league LCS.
- The team has been in financial trouble since a 10-year deal worth 210 million US dollars with the crypto exchange FTX fell through. TSM CEO Reginald allegedly made the deal with Sam Bankman-Fried on his private jet.
- This deal was the most lucrative in all of esports.
We reported extensively on the downfall of the alleged crypto genius Sam Bankman-Fried on MeinMMO.
What does it mean to sell one’s “spot”? The professional league LCS is a franchise league: One cannot be promoted or relegated. Teams must buy a place in the league from another team if they want to enter the league. Such spots are traded for double-digit millions.
Schalke sold its spot in the European LEC in 2021 for 26.5 million euros to Switzerland.
CEO does not deny, gives vague statement
What does TSM say about this? They do not comment directly on the story. However, TSM’s CEO, Reginald, indirectly responded on Twitter a day later.
Reginald said: TSM is committed to esports.
He said they plan to enter CS:GO – that would be a bigger investment than “all the games” they have left: They will always look at the situation in esports and decide where to invest best.
The “games they have left” could indeed refer to a withdrawal from LoL – but also to the fact that TSM withdrew from the esports scene of Rainbow Six Siege in February 2023 (via dexerto).
CEO said he actually wanted to double the investment in LoL – but could not
On reddit, Reginald explains:
- He had planned to enter LoL even more strongly and “double the investment” – but that could not be done
- He cannot say anything currently for legal and business reasons but will “shed light” on the matter soon
What does he mean by that? Before 2022, TSM was reportedly at a crossroads after superstar Bjergsen decided to resume his career as a professional player.
It is said that Reginald planned:
- To recruit Bjergsen again and put together an expensive team – the best North America has to offer – that is probably what he means by “doubling the investment”.
- However, Bjergsen declined and TSM opted for an affordable roster with talents from China.
Fans mourn the great times with Bjergsen
How is this being discussed? This is a huge story for League of Legends because TSM was still the giant in US LoL just a few years ago and, with the gigantic crypto deal, should have been the dominant force in North America for years.
On reddit, people are writing:
- “The name was shouted by the audience worldwide and now they find themselves like this – what a downfall!”
- “I wonder how the whole history would have changed if TSM had not gotten Bjergsen in 2014. It always felt like TSM was heavily dependent on players coming to them just to play with Bjergsen.”
- “TSM was the most popular organization in the world before Bjergsen and their players averaged 300,000 viewers.”
The “TSM” chants have been a well-known phenomenon in League of Legends for ages:
What is up with Bjergsen? The Dane Bjergsen came to TSM in 2013 and stayed in the organization until 2021: He became a superstar in LoL.
However, in 2021, Bjergsen left the team. At that time, there were conflicts involving Reginald, who was portrayed as a tyrant.
Without Bjergsen, TSM relied on a young team with a strong Chinese influence, but had some problems here. A coach is said to have embezzled €200,000 while trying to recruit Chinese players for TSM.
Without Bjergsen, TSM had no major success in the last two years.
Is TSM really selling its LoL spot? Officially not, but there are many indications. Just before the report, the head coach of the LoL professionals stated that the LoL team had to operate on a very low budget. Additionally, many key employees were laid off, and Reginald mentioned that they had “hired too many new people too quickly.”
The loss of the deal with the crypto exchange was apparently a severe blow.
The statements from Reginald do not sound like a denial. For the US scene in LoL, a withdrawal from TSM would certainly be a great loss. For many years, TSM was the team to beat if you wanted to become champions in the LCS – or you had to switch there.
The crisis at TSM began in November 2021 when negative reports regarding Reginald increased:
The most powerful man in US LoL is said to be quite a jerk who makes life difficult for players
