SK Telecom T1 Values at $62 Million, Becomes Most Expensive Esports Brand
For the past three years, SK Telecom T1 has been conducting annual valuations of its brand through a sports marketing firm called Sports Intelligence.
According to its report (via Reddit), the South Korean esports organization is currently valued at a monstrous ₩70 billion ($62 million). This value was derived after SK Telecom T1 won the 2017 LCK Spring Split finals earlier this month.
Comparing past valuations, the ruling name in League of Legends has managed to double its net worth in the past couple of years. In 2014, SK Telecom T1 was valued at ₩36.1 billion ($31 million). A year later, it managed to increase that to ₩29.3 billion ($26 million). Last September, the esports brand was worth ₩50.9 billion ($45 million).
Elsewhere in the report, SK Telecom T1 estimated that over a million people watched the finals of 2016 League of Legends World Championship. The promotional value for its brand for participating in the event alone was worth nearly ₩10 billion ($8 million).
During the League of Legends pre-season, it was reported that Lee “Faker” Sang-hyeok renewed his contract with SK Telecom T1 by signing an “unprecedented offer” to stay. There is still no official word on how much he is being paid by the management but rumors at the time suggested that his new contract offered at least ₩3 billion ($2.5 million). In other words, any team hoping to recruit the very best player in the world needs to put up more than that to even catch his attention.
SK Telecom T1 has secured three World Championships until now, the only team in history to do so. Alongside that, it has amassed several other events and accolades under its name. It has retained its place as the best League of Legends team in the world for several years now. SK Telecom T1 has formed a legacy in the esports world, featuring the best players, coaches, and results.