Two of the biggest tournament organisers in eSports merge: ESL and FACEIT to be merged under Saudi Savvy Gaming Group
A major takeover took place in eSports on Tuesday night. The Savvy Gaming Group (SGG), which is backed by the sovereign wealth fund of Saudi Arabia around the controversial Crown Prince Mohammed bin Salman, has bought ESL and FACEIT. The two companies are among the largest independent league and tournament organisers and will be merged under the name ESL FACEIT.
According to the “Handelsblatt”, the Savvy Gaming Group will pay a total of about 1.5 billion US dollars for the two companies – just under one billion for ESL and half a billion for FACEIT. Assuming regulatory approval, the deal is expected to close in the second quarter of 2022.
“A world where everyone can be someone “
ESL and FACEIT are among the driving forces behind eSports growth in recent years and are among the largest organisers of eSports leagues and tournaments worldwide. The Cologne-based company ESL gained international recognition in particular through events such as ESL One and the Intel Extreme Masters, FACEIT especially for the Esports Championship Series.
According to a press release, ESL CEO Craig Levine expects “more know-how, skills and resources than ever before” from the merger and the takeover by Savvy Gaming Group: “Our mission remains unchanged: to create a world where everyone can be someone. “
Next Gaming Offensive from Saudi Arabia
How the eSports community will receive the expansion of Saudi influence, meanwhile, remains to be seen. In the past, there has been some clear resistance to various advances. For example, when a project called “NEOM” attempted to partner with Blast and League of Legends.
“SGG is committed to investing heavily in the gaming and eSports industry,” CEO Brian Ward is now quoted as saying in the acquisition announcement. Part of the new company ESL FACEIT will also be the brands DreamHack, ESEA and Badlion. The gaming portfolio of the respective providers is to be continued unchanged for the time being, explains ESL FACEIT.
