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Faker's new esports contract includes part ownership of T1

Legendary League of Legends player Faker has signed a new contract with his long time team T1, which will give him part ownership of the organization.

TJ Denzer

February 19, 2020 10:17 AM

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Lee "Faker" Sang-hyeok and T1 (formerly SK Telecom T1) are like bread and butter, peanut butter and jelly, or Xayah and Rakan. They just go together and have for as long as anyone in League of Legends esports has been aware of them. Even so, Faker’s contract was up for renegotiation recently at T1, which left everyone wondering if he’d stay and continue to play or explore other opportunities. It was a short-lived question. Faker has not only signed with T1 again, but his new contract gives him a ton of new incentives, including part ownership of the T1 organization.

Faker’s new contract was revealed on February 17, 2020, as reported by ESPN Esports. Faker agreed to a new three-year deal (the maximum length under Riot Games esports rules) which gave him part-ownership of T1 Sports & Entertainment. In addition, Faker also agreed to terms that he will move into a leadership role at T1 once he is done with active competition.

"I am excited to continue playing for T1 and am thankful for all the fans around the world who have supported me all these years," Faker told ESPN.

Indeed, Faker’s new contract with T1 seems more than valid. The player has been a face of South Korean esports in his time with T1 and League of Legends for years, having been the team’s mid-laner since 2013 and having taken them to major showings such as championships of the LCK Spring and Summer playoffs in 2019. Though the team was bumped off in Worlds 2019 in the Semifinals by G2 Esports who would go on to lose against a dominant FunPlus Phoenix in the championship, Faker and T1 have been long time favorites of the League of Legends competitive scene with many believing their next major championship is just around the corner.

Faker is also not the first to get a part-owner contract. Recently, legendary former player Søren “Bjergsen” Bjerg was also given part-ownership of Team SoloMid for his longtime contributions to the organization. It seems to be a trend of deal reserved for only the most dedicated and long-standing faces of League of Legends organizations these days. Shacknews congratulates Faker on his new contract and can’t wait to see how far Faker and T1 can go in 2020.

[Featured image via Riot Games]

TJ Denzer

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.