Disguised Toast esports venture projects $1m loss for 2023

Disguised Toast
Screenshot of Disguised Toast via his Youtube Channel. Image credit: Disguised Toast

Popular content creator Jeremy ‘Disguised Toast’ Wang has unorthodoxly revealed the 2023 budget for his own esports organisation, Disguised. The team is on track to lose $1m (~£806,000) by the end of the year.

The information was revealed via a tweet by Disguised Toast, with a table highlighting that the organisation expects to see a net operating loss of $620,000 (~£500,000) this year.

ESI Lisbon 2024

The screenshot did not contain any revenue figures for 2023. It is unclear whether these figures have been omitted due to Disguised Toast wanting the number to remain private, or because Disguised does not expect to generate any revenue at this moment in time. Esports Insider has reached out for comment.

Disguised, which was only founded last year, currently has no dedicated sponsors nor esports merchandise options — two of the most common revenue streams for teams. However, whilst the content creator is set to lose money on the esports venture, there may be potential indirect benefits for Disguised Toast, his brand as a content creator.

After initially launching with a North American VALORANT roster to compete in the second tier of the VALORANT Champions Tour, Challengers, the organisation announced its entry into League of Legends this month. 

The new team will be a part of the revamped NACL — tier-two of North American League of Legends — following rule changes which saw multiple LCS academy organisations opt out of the competition and a subsequent planned LCS player walkout as a result.

Since the start of his esports venture, Disguised Toast has been transparent about the cost of running an esports organisation, similar to MoistCr1TiKaL, another content creator and esports owner. 
Both Disguised and Moist Esports are among a new wave of organisations that are being founded by popular content creators. For a comprehensive look at more esports organisations that are owned, or invested in by, influencers, check out Esports Insider’s list.

Tom Daniels
Tom has been part of Esports Insider's team since October 2020 and is currently the platform's Editor. When not playing Football Manager, he enjoys reporting on the mobile esports scene as well as the betting sector.