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FTX Has Paid Nearly $100 Million in Sponsorship Fees to Riot Games and $67 Million to Two Music Festivals

According to The Block, court documents show that FTX had agreed to pay nearly $100 million in sponsorship fees to Riot Games, the developer of "League of Legends," within seven years. After FTX announced bankruptcy, Riot Games began trying to withdraw from the deal at the end of last year.

The documents also show that FTX agreed to provide about $42 million to Tomorrowland music festival before 2026. In addition, the Coachella music festival held annually in Southern California has also signed a $25 million agreement with FTX.

Prosecutors presented a list of dozens of sponsorship agreements signed by FTX during the cryptocurrency bull market, attempting to prove SBF's poor financial decisions and reckless spending behavior.

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