ESL And FACEIT Are Now Owned By Saudi Arabia - Esports News
740Earlier this week, it was reported that Savvy Gaming Group, an investment group owned and funded by the Saudi Arabian government's Public Investment Fund, will be acquiring ESL and FACEIT for a combined 1.5 billion dollars USD, pending official approval in the Q2 of 2022.
ESL is one of the biggest event organizers in esports with a focus on Counter-Strike: Global Offensive and Dota 2. It operates one of CS:GO’s most prestigious competitions, the ESL Pro League, and has hosted multiple CS:GO Majors with IEM Katowice in 2019 being the most recent. FACEIT is also a large event organizer and also serves as one of the largest online competitive gaming platforms in the industry, especially for the CS:GO community.
Following the acquisition of the two companies, ESL and FACEIT will be merging to become the ESL FACEIT Group. While all brands under the two companies such as DreamHack, ESEA, and Badlion will continue to operate as before, the merge will allow the organization to work towards “support more regions and grassroots initiatives, and provide further stability in a rapidly growing landscape.”
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