SK Telecom and Comcast Spectacor will create a joint esports venture to make a mark in the global market worth some 3 trillion won ($2.68 billion), the companies announced Sunday in Spain, a day ahead of the opening of the Mobile World Congress 2019.

The new esports venture, T1 Entertainment & Sports will be based on SK Telecom’s “League of Legends” pro gaming team, SK Telecom T1, with the team to be rebranded as simply “T1.” 

Comcast is the world’s second-largest cable TV provider and the US’ No. 1 internet service provider, with over 54 million subscribers. 

SK Telecom founded T1 in 2004. The “League of Legends” team includes the legendary Lee Sang-hyeok, better known as “Faker,” and is a three-time winner of the “LoL” World Championship.

With its original ownership, SK Telecom will be the bigger shareholder of the new venture.

In addition to the “League of Legends” team, T1 Entertainment & Sports plans to field rosters in “Fortnite,” “Player Unknown’s Battlegrounds,” “Super Smash Bros,” “Hearthstone” and “Apex Legends.”

NBC Universal, Dreamworks, Sky and Universal Studios are all also owned by Comcast. Comcast Spectacor is the media conglomerate’s sports and entertainment arm.

Comcast Spectacor also acquired the rights to “Overwatch” esports team Philadelphia Fusion in 2017. Pro gamer Tucker Roberts, the son of the Comcast CEO, manages the group’s esports businesses.

By Lim Jeong-yeo (kaylalim@heraldcorp.com)