Cologne – Deutsche Telekom has become a shareholder in well-known e-sports company SK Gaming. In addition to Deutsche Telekom, 1st FC Cologne, Mercedes-Benz and SK Gaming founder and CEO Alexander Müller each hold a quarter of the shares in the Cologne-based company.
CMS partner Dr Hendrik Schindler advised 1st FC Cologne on all legal aspects of Deutsche Telekom’s investment in SK Gaming. The football club is a longstanding CMS client. The law firm also provided transactional advice when the club acquired its stake in SK Gaming.
SK Gaming describes itself as a leading e-sports organisation. Established in 1997, the company has won more than 60 championship titles and prizes worth millions of euros. 1st FC Cologne and SK Gaming announced a strategic partnership back in January 2018. This partnership and the stake taken in SK Gaming in May 2019 marked the entry of 1st FC Cologne into the e-sports space. Deutsche Telekom is now the first telecommunications provider to invest directly in an e-sports organisation.
Dr Hendrik Schindler, Partner, Corporate/M&A