mTw and AMD Part Ways
INSIDER ESPORTS - In an official press release, the mTw organization announced that its partnership had ended with primary sponsor AMD on December 31st, 2008.
The contract was initially expected to run through April, but AMD has run into financial troubles and is making moves to reduce excess spending. AMD's retail and OEM sales have dipped considerably this year, which has resulted in major budget revisions and cuts for the next fiscal year. mTw, however, doesn't plan on changing anything in response to this separation. mTw has noted that they are financially secure, and have already begun seeking new partnerships with other companies.
What follows is an official statement released by mTw Chief Executive Officer, Lars Eiben:
"Our partnership with AMD was canceled by AMD on 31.12.2008. We were informed in time and thus we had the chance to start looking for other opportunities. AMD canceled their arrangement with mTw due to the economical situations, which as we all know is in a decline. We won’t be the only ones who are effected by AMD’s decision to cutback in esports. I really regret this step by AMD, as we actually expected a long-term partnership with the company. Nevertheless, thanks to support from our remaining partners and the good work of our management, mTw will be well-prepared for 2009. We will try to continue our success in the future."