The news from South Korea rocking the esports world is the announced expansion of one of gaming's biggest sporting bodies. Yes, T1 looks to expand its base camp and operations in its home region. Still fresh from an impressive comeback victory against Bilibili Gaming (BLG) at the LoL Worlds 2024, a feat that handed Faker his fifth world title, the gaming outfit is looking to ride the momentum into writing a new chapter in its history. However, the organization will seek to raise $35 million in funding to achieve its aspirations. T1 Entertainment and Sports' CEO, Joe Marsh, revealed during an interview with the Sports Business Journal that its cafes are revenue-generating and cash-flow businesses. The T1 Base Camp, a PC gaming Cafe launched in 2023, quickly shot to South Korea’s number-one PC gaming cafe. The T1 brand is one of the most recognizable names in the gaming world, so it’s little wonder its business ventures are so successful. The Success So Far T1 recently hosted its first official homestand matches in a packed arena. Fans of the League of Legends champions turned up in large numbers to the 6,200-capacity Goyang Sono Arena, which currently serves as the T1 home ground. The home team didn’t fail to impress, delivering a spectacle to their faithful. The success train also extended beyond gaming, as the event generated over $1m in ticket sales, merchandising, and beverage and food sales. Joe Mash hopes that developers and LoL esports' main organizers, Riot Games, will permit them to host such events outside South Korea, including licensing the naming rights to third parties. He also revealed on his LinkedIn page that they had a fan event involving Faker, one of esports' greatest players. However, he remained tight-lipped when fans asked him to shed more light on the topic. A successful funding round would be the first in the T1 brand’s history. Esports had previously been known as SK Telecom T1. However, in 2019, a collaboration between South Korean telecommunications company SK Telecom and American sports and entertainment company Comcast Spectacor gave birth to the esports entity we’ve come to know and love. Do you wish to stay informed about all things esports? Follow us on Startplays to stay updated.
