Comcast Spectacor, a division of US media giant Comcast, has confirmed the launch of T1 Entertainment & Sports, a new global esports joint venture that has been established through a partnership with SK Telecom, the largest mobile operator in South Korea.
The two parties signed a memorandum of understanding on the venture in February, but the necessary regulatory approvals have now been secured.
T1 owns and operates teams in competitive gaming segments such as Fortnite (pictured), Dota 2, PlayerUnknown’s Battlegrounds, Super Smash Bros., Hearthstone and Apex Legends. The venture’s portfolio at launch includes the successful SK Telecom T1 League of Legends (LoL) Champions Korea team, which is competing for a fourth title in the LoL World Championship.
SK Telecom chief executive Park Jung-ho said: “We’re excited to contribute this legacy to form a premier esports organisation with Comcast Spectacor to expand globally and grow the business in new directions.”
Following the launch, Joe Marsh, who most recently served as chief business officer for the Comcast Spectacor Gaming division and the Philadelphia Fusion Overwatch League team, has been named as chief executive of T1, overseeing operations that are based in Seoul, Philadelphia and Los Angeles.
The Philadelphia Fusion Overwatch League franchise is not part of T1 and will remain under Comcast Spectacor’s full ownership.
In March, Comcast Spectacor, which owns the Philadelphia Flyers NHL ice hockey franchise, announced plans for a $50m (€44m) esports facility to house the Philadelphia Fusion. The 3,500-capacity venue, which will be built in the South Philadelphia Sports Complex, is expected to open in 2021.