ESL Gaming and FACEIT acquired by a Saudi fund for 1.5 billion dollars


Savvy Gaming Group, a group 100% backed by the Saudi Public Investment Fund (PIF), has just announced the acquisition ofESL Gaming, one of the largest esports organizers in the world, for a billion dollars. The agreement also makes it possible to put the hand on the Faceit platform, for an additional 500 million. The two structures thus merge into a new entity, ESL Faceit Group.

The finalization of this sale is scheduled for the second quarter of 2022 and will allow Saudi Arabia to have of the largest esports event organization and management group in the world. The teams are expected to remain in place, while the co-founder of ESL, Ralf Reichert, will have a non-operational role of executive chairman.

Barely announced, the deal was criticized by some in the world of gaming and esports, critics recalling in particular the problems that the LEC on LoL and the Blast on CS:GO had with the monarchy. In 2020, they were to be sponsored by NEOM, a city of the future project in Saudi Arabia, but the partnerships were quickly broken after heavy criticism against the Saudi fund.

With ESL, Savvy Gaming Group now manages many CS:GO competitions (ESL Pro Tour, ESL One, Dreamhack, Intel Extreme Masters, FACEIT Major). The structure will therefore be placed under the high patronage of the famous Saudi Crown Prince Mohammed Bin Salman, who recently bought Newcastle United and would eye OM or Inter Milan in the world of football.



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