T1 Sponsorships Routed Through CAA Singapore Spark Scrutiny

T1 routed most of its sponsorship deals through CAA Singapore, an agency with operations in the United States and Singapore linked to CEO Joe Marsh, and paid commissions on agreements that T1 staff had sourced and negotiated. Owners remain divided over Marsh’s appointment and requests for comment were not answered.

The company reported total revenue of ₩88.64 billion for 2025, roughly $58–60 million, an increase of more than 80% from 2024. T1 posted an operating profit of ₩2.51 billion ($1.66 million), its first operating profit.

Financial records and company accounts show nearly all sponsorship revenue was routed to CAA Singapore rather than managed in-house. Industry terms typically see external agencies charge about 10% to 15% of a deal’s value; several South Korean esports teams handle sponsor outreach and negotiation internally to avoid those fees.

Marsh wrote that the CAA contract “went through the approval process of the entire Board” and received written board approval on October 3, 2025. SK Square described the decision as “a matter of CEO decision-making.” Neither T1 nor SK Square answered direct questions about whether CAA Singapore took a fee on deals identified and negotiated by T1 staff.

A regulatory filing on the Financial Supervisory Service’s DART system shows Marsh was reappointed in late May with a term extended through March 30, 2029. Company filings and ownership statements indicate shareholders have not reached a final decision on long-term leadership.

Investors and governance observers have requested clearer disclosure of how sponsorship revenue was generated and distributed as T1 reports its first operating profit.