T1’s ownership structure and recent board activity create the tight 50% split on whether Joe Marsh departs as CEO by year-end. SK Square holds majority control alongside Comcast Spectacor, and reports indicate the pair extended Marsh’s term to 2029 in spring 2026 before his formal mandate lapsed June 30 amid stalled succession talks. A late-August board session then addressed potential replacements after scrutiny of exclusive sponsorship deals routed through CAA Singapore, a firm tied to Marsh’s prior Comcast ties, sparking fan protests and internal friction. Competitive roster stability and T1’s multi-title performance have continued under the current leadership, yet unresolved shareholder negotiations and the lack of an official reappointment or successor announcement keep the market balanced. Any confirmed candidate list advancement or public resolution before December could shift implied probabilities sharply in either direction.