Savvy Gaming Group acquires FACEIT and ESL for $1.5 billion.

ESL and FACEIT, two of the world's largest esports organizations, are joining forces.



Savvy Gaming Group, owned by the Saudi Arabian state fund PIF (Public Investment Found), bought the world's two largest tournament organizers, ESL and FACEIT, for $1.5 billion. Germany-based esports company ESL remained one of the oldest sports organizations with over 600 workers and TV studios in many countries. Organizer of tournaments such as ESL One, Intel Extreme Masters, ESL Pro Tour and ESL Play, the company was the leading organizer of CS:GO, Dota 2 and Starcraft.

On the other hand, FACEIT, which was founded in 2012, has become one of the leading esports companies in the world, especially with the ECS (Esports Championship Series) tournaments it organized in the field of CS:GO and hosting the 2018 Major London. While the two major organizers join forces for the future, their management teams will remain relatively the same. ESL co-founder Ralf Reichert will sit on the board of directors, while Craig Levine and Niccolo Maisto will serve as CEOs.

The statement made by ESL & FACEIT is as follows:

“We are excited to share the news of the merger between ESL and FACEIT that will help esports rise with the help of our new investors, Savvy Gaming Group. For years, both companies have been developing independent projects in the field of esports. Today we are joining forces to create more integrated, accessible and sustainable ecosystems for fans, gamers and multi-game teams.

We are now in a better position to work together within the same group to make long-term investments and create strong synergies across multiple products to support competitive gaming development.”

Savvy Gaming Group, which has just entered the esports industry, has taken control of the CS: GO competitive arena with this move. It is stated that the company, which is funded by PIF, is also in talks to buy the popular football teams Milan and Marseille. The company is currently the owner of Premier League teams Newcastle United.

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