TSM, one of the largest esports organizations in the world, is reportedly cutting back costs in its esports division.
According to Sports Business Journal, The North American organization is planning to sell its League of Legends franchise slot and other assets related to its esports division.
This decision was made due to various reasons, including its $210 million financial loss with FTX after the company’s founder was accused of engaging in shady deals.
TSM hinted at this move after laying off some of its key players in the esports scene.
It remains unclear whether the team will withdraw from other titles such as VALORANT and Apex Legends, or whether this will impact their entry into the CS:GO scene later this year.
TSM’s decision to reduce its investment in esports is expected to have significant implications for the industry, as it has been a major player in the esports space for years.
Fans and industry experts alike are eager to see how TSM’s move will impact the future of esports.