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A Pro E-Sports Team Is Getting $210 Million to Change Its Name
The deal between TSM, which fields competitive video game teams, and the Hong Kong-based FTX exchange, rivals the kinds of deals top sports franchises land to name arenas and stadiums.
TSM played the first quarterfinal match of the League of Legends World Championships at Bexco Auditorium in South Korea in 2014.Credit.Jean Chung for The New York Times
June 4, 2021Updated 9:35 a.m. ET
The conversation started with a direct message on Twitter from one 29-year-old entrepreneur to another: “Yo, what’s up?” It ended with one of the more lucrative naming rights deals in recent sports history.
May 26, 2021, 5:00 a.m. ET
Credit.Greg Baker/Agence France-Presse Getty Images
Opinion Columnist
Tim Cook, Apple’s chief executive, is unflappability personified. When facing tough questions from investors, journalists or lawmakers, Cook tends to speak with the sparkling precision of an iPhone’s diamond-cut edges slowly, commandingly, in an elegant Southern drawl that conveys exactly the sort of finality you’d expect from the head of a $2 trillion tech titan.
Last week, though, Cook might have felt a bit like a spinning pinwheel under the polite yet relentless interrogation of a Federal District Court judge charged with deciding whether Apple is a ruthless monopolist. In the process, the judge, Yvonne Gonzalez Rogers in Oakland, Calif., highlighted a scourge affecting just about every Apple customer and the software developers who want to build apps for them.
A decision over the antitrust suit filed by Epic Games, and the future of the $100 billion market for iPhone apps, is now in the hands of a federal judge.