Months after their departure from the LCS, Team Solomid has yet to announce their new team initiative in League of Legends. Facing financial difficulties, as recently revealed by a former employee, the North American organization has expressed its desire to return to competition in three major games, including League of Legends.
TSM will be fully committed to esports
Team Solomid, created by Reginald in 2011, has established itself as an iconic figure in esports, home to legendary players such as Xpecial, Dyrus, Bjergsen, Doublelift and Locodoco. Over time, it has become one of the most high-profile esports organizations, although this attention has not always been positive. Facing major financial and litigation challenges, the bankruptcy of its main sponsor and cryptocurrency giant FTX plunged TSM into an unprecedented financial crisis. This situation forced the organization to suspend operations on several games such as Valorant and Apex Legends and part ways with many players and staff members.
Regarding League of Legends, despite retaining two of its teams, TSM’s performance in the LCS in recent seasons has been worrying. The 2021, 2022 and 2023 seasons have been particularly difficult for the team, with disappointing results and criticism of team management. Additionally, the organization has been in the news due to controversies surrounding its founder and CEO.
In May 2023, after another disappointment during the Spring Split, Reginald announced that TSM was withdrawing from the LCS to focus on a new project in a new region. Shopify Rebellion, particularly active in Valorant, Dota 2 and Rocket League, took over TSM’s place in the North American league, a purchase worth around $10 million, according to New York Times reporter Kallen Browning. Rumors have mentioned TSM’s possible move to the LPL or LCK, with Reginald only suggesting that the aim will be to establish themselves in a major region, with ambitions to win the world title, even if it means losing a revenge country.
Since the announcement of TSM’s withdrawal from the LCS and its plans to expand into a new region, no additional information has been provided by Reginald on plans to create a new League of Legends team. Additionally, recent revelations from Duncan Cox, the former head of social media at TSM, provide some comfort to supporters. After being let go after five years of service, he revealed that the organization’s staff had been reduced to less than ten.
On my 5th anniversary of working at TSM, I was told I was no longer employed. I am currently in shock and working to fix it. As the team around me has shrunk and I’ve inherited more responsibilities, and there are only 9 people working on TSM, I didn’t expect much, but it’s still the same.
Following this ex-employee’s revelation, TSM was obliged to officially communicate its future intentions, confirming its ambition to be at the forefront of esports, specifically on League of Legends. Although the organization did not deny that only 9 employees remained, it confirmed its full commitment to esports, announcing its intention to compete again in three major titles: League of Legends, Valorant and Call of Duty. For VALORANT, TSM is looking to participate in the Valorant Champions Tour, exploring the possibility of joining the VALORANT Challengers League after the Open Qualifier ends.
The ecosystem has experienced some challenges in recent years, and we are trying to be mindful of our approach to ensure our sustainability and longevity as an organization. Going forward, we will aim to post quarterly updates. That said, we want to reiterate that TSM is fully committed to esports. While we can’t share every detail of our plans for the future, we can confirm that we are looking to actively engage in multiple Tier 1 action scenes, including League of Legends, VALORANT, and Call of Duty. We are working hard to achieve our goal of achieving a League of Legends franchise location in a Tier 1 region by the end of 2024. This process takes time and requires patience, as negotiations of this magnitude present many obstacles.
Currently, the esports sector, like the entire video game industry, is facing an economic downturn. With little optimism for an improvement in 2024 compared to 2023, recent events at Riot Games and the LEC testify to this trend. Against this difficult backdrop, Team Solomid faces its own financial challenges. However, the organization receives financial support from Blitz, a gaming platform co-founded by Avalanche and TSM, based on the AVAX cryptocurrency, allowing TSM to navigate these uncertain times.