Comcast Spectacor and SK Telecom launched a global esports joint venture on Tuesday, creating T1 Entertainment & Sports.
The venture will include top League of Legends team SK Telecom T1, which will be rebranded as simply T1 moving forward. The team is currently competing at the League of Legends World Championship -- moving to 3-0 in group play with a win over Clutch Gaming on Tuesday -- while seeking an unprecedented fourth title.
"T1 immediately becomes one of the premier esports organizations in the world, and we are looking forward to strengthening its presence in this dynamic space as we move forward," Comcast Spectacor chairman and CEO Dave Scott said in a statement.
"This marks a significant step for SK Telecom's esports business and we are very excited for the future of T1," SK Telecom CEO Park Jung-ho added in a statement.
Joe Marsh, the former chief business officer for Comcast's Spectacor Gaming division and the Overwatch League's Philadelphia Fusion, was named CEO of T1. The Fusion, however, are not a part of the T1 venture, remaining fully owned and operated by Comcast Spectacor.
T1 also owns and operates teams in Fortnite, Dota 2, PlayerUnknown's Battlegrounds, Super Mash Bros., Hearthstone and Apex Legends.
-- Field Level Media