Two major esports tournament providers, ESL and Faceit, have joined forces under controversial circumstances.
They willl now be owned by Savvy Gaming Group (SGG), which is 100% owned by Saudi Arabia’s sovereign wealth fund – its government’s Public Investment Fund.
Savvy Gaming Group has acquired ESL from Modern Times Group (MTG) for $1.05bn, and has purchased Faceit for a reported $500m. SGG is headquartered in Riyadh, Saudi Arabia.
The move – first reported by Handelsblatt – has been criticised by pockets of the esports community for Saudi’s human rights record.
Continue reading ESL and Faceit acquisition criticised over Saudi Arabia government funding