T1’s board, split between majority owner SK Square and Comcast Spectacor, has weighed replacing CEO Joe Marsh following July reports of an effective leadership vacuum after his prior term extensions and August revelations of sponsorship deals routed through CAA Singapore. Fan protests outside Seoul HQ and a reported 75% turnover in the partnerships team have intensified scrutiny, even as Marsh reiterated he remains in charge and the organization posted its first operating profit plus multiple LCK titles under his tenure since 2019. Traders see these governance tensions and shareholder negotiations as elevating the chance of an exit by year-end to the current 59% implied probability.