how do esports teams even generate revenue

like very few ppl are actually buying merchandise for an esports team (since it’s kinda embarrassing to wear in public which defeats the purpose of having it)
and it’s not like these teams have stadiums booked where they sell their own tickets/concessions etc.
there’s also very little social media presence from even some of the best teams and i’m not sure how much of the split they get from twitch streams
i’m surprised teams even last this long tbh, must be some generous investors

That's the thing, they don't.

I buy TenZ jerseys and keep SEN in business

Sign low profile players, hit jackpot like eg

sponsors
other than that they probably go negative in profit unless they win

you said it "must be some generous investors"

ads

merch

they get money from riot that is earned from vct sponsorships/ads plus skin bundle money if they qualify for champs and ofc tournament prize money

merch is a factor too ofc

Investors hoping they will be profitable one day. But a lot of that money is drying up because of higher interest rates.

also I think they get a portion of whatever stream revenue their players make, well for some contracts

allat video but good if u want to know more insider stuff
https://www.youtube.com/watch?v=iw_rPWRhBnc

Sponsors, merch, Very generous investors

investors, crypto, betting 👍
brand sponsors and merch too a little

sponsors, the org or atleast the CEO affiliated with some shady crypto BS, sport-washing or generous investors.

esport org business isnt a self-sustain business yet unlike the conventional sport.

You hit the nail, they don't