Getty Images
Los Angeles-based Team SoloMid (TSM) remains the most valuable organisation in esports with an estimated valuation of US$540 million, according to Forbes’ 2022 ranking.
TSM saw its value increase 32 per cent year-over-year (YoY), according to Forbes’ valuation model, with estimated revenues of US$56 million in 2021. This includes income from the ten-year, US$210 million naming rights deal with cryptocurrency firm FTX signed last June – the largest of its kind in competitive gaming history.
According to the Forbes study, which canvassed the opinion of more than 40 executives, professionals, investors, bankers and analysts across the competitive gaming industry, the average esports organisation ranked in its top ten is worth US$353 million – a 46 per cent increase on 2020.
100 Thieves placed second on Forbes’ 2022 list, with a valuation of US$460 million. The organisation saw the largest YoY increase in value at 142 per cent and brought in US$38 million of revenue last year. In December, a funding round saw 100 Thieves raise US$60 million and provided the listed valuation. The organisation will seek to grow further with the launch of a 100 Thieves lifestyle brand also covering apparel and entertainment.
Third-ranked by Forbes is Netherlands-based Team Liquid, reaching a valuation of US$440 million, up 42 per cent YoY. Although Axiomatic Gaming, the company which owns the esports outfit, recently raised US$35 million in a funding round that valued Team Liquid at US$415 million, Forbes estimates that price tag has since increased.
Faze Clan is ranked fourth and valued at US$400 million, having generated the second highest revenue of any organisation in the top ten at US$52.9 million. Faze Clan’s revenue figure, confirmed in its US Securities and Exchange Commission (SEC) filing, is the only confirmed number in the study.
The top five is closed out by Cloud9, which operates entries in the League of Legends Championship Series (LCS), Overwatch League (OWL) and Fortnite, was pegged at US$380 million.
