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mTw cut ties with AMD
mTw cut ties with AMD
Posted by SmellyMoss on Jan 5th 2009 10:20
The economic downturn appears to have finally caught up with the financial heart of esports with one of Europe's largest teams losing a main sponsor. Early this week, mTw and AMD officially cut ties. The sponsorship deal between the German club and Advanced Micro Devices began in April 2008, but was prematurely ended by AMD at the end of last year. Lars Eiben, CEO of mTw was told that the current economic situation was the primary reason for the deals termination.
"AMD has given the current situation of the company and the overall economic situation (as the reason for the relationship between AMD and mTw prematurely ending). We are not the only ones that these savings from AMD will be affected."
AMD is looking to saving $70 million US over the next year. Last week they announced that they had let go over 600 employees, almost 20 percent more than previously estimated. The amount of job cuts facing the technology sector has increased drastically since the start of the new year, with Microsoft expected to slash up to 15,000 staff across the globe. This is not good news for esports as Microsoft are increasingly becoming one of the sports biggest supporters, sponsoring events such as the World Cyber Games.
mTw are now in talks with several new sponsors with news to be announced in the coming weeks.
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Bub said: (Jan 06 2009 at 14:18:40 GMT)
No more irc mixes with .AMD after names, nobody will believe now :'(
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