FTX agreed to pay Riot Games nearly $100 million, while Tomorrowland and Coachella also had big deals: SBF trial evidence

Quick Take

  • “League of Legends” creator Riot Games agreed to take nearly $100 million from FTX, court documents presented as evidence at Sam Bankman-Fried’s criminal trial show.
  • The company also decided to give the Tomorrowland music festival about $42 million through 2026.

While the many millions collapsed cryptocurrency exchange FTX agreed to shell out to celebrities like Tom Brady, Gisele Bündchen and Larry David has been news fodder for some time, there are dozens of other deals that it's now possible to examine in greater detail thanks to the ongoing criminal trial of former CEO Sam Bankman-Fried.

In one high-profile sponsorship deal, "League of Legends" creator Riot Games agreed to take nearly $100 million over seven years, a document entered into evidence showed. After FTX declared bankruptcy amid losing customers money, Riot Games began trying to get out of the deal late last year.

FTX also agreed to give the Tomorrowland music festival, an event frequented by top DJs like Solomun, about $42 million through 2026, the document also shows. The Coachella music festival held every year in southern California also inked a deal with FTX worth $25 million, according to the document.

Riot Games, Tomorrowland and Coachella did not immediately respond to requests for comment from The Block. 


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Evidence submitted by prosecutors

The spreadsheet detailing the dozens of sponsorship deals FTX had signed during crypto's bull run was entered into evidence by prosecutors on Monday and then made available in its entirety today. The prosecution has been trying to establish that Bankman-Fried demonstrated a pattern of behavior which included cataclysmic financial decisions and reckless spending.

Former FTX insider Nishad Singh testified on Monday that he took issue with Bankman-Fried's "excessive" approach to spending. Bankman-Fried is currently on trial for criminal charges related to the collapse of the cryptocurrency trading platform he co-founded.

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.


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