Savvy Gaming Group buys ESL Gaming and Faceit for $1.5 billion

Tournament operators ESL Gaming and FACEIT have announced a merger. Both parties will complete the merger process by the second quarter of 2022, but at that time they will already be under the influence of the new owner.

Today we are coming together to create more integrated, accessible and sustainable ecosystems for fans, players and teams. Our mission remains the same: to create a world where everyone can be someone. Our merger with FACEIT, along with the support of SGG, will give us more know-how, capabilities and resources than ever before to realize this vision.

The new owner of ESL Gaming and FACEIT is the Savvy Gaming Group, backed by the Saudi Arabian sovereign wealth fund and led by CEO Brian Ward, formerly Activision's senior vice president . The deal is reportedly worth $1.5 billion, according to a report published by Sports Business magazine. At the same time, the new owners intend to keep the current leadership of the team, limiting themselves to the creation of a new management structure.

According to ESL FACEIT, the brands owned by the two companies, namely FACEIT, DreamHack, ESL, ESEA and Badlion, will continue to operate as usual.

The new owners promise to focus their efforts on the following programs:

• Support for the North American esports scene.
• Fight against fraud.
• Expanding the FACEIT Pro League with monthly stipends and equipment support, as well as supporting affiliate teams to create scouting and development programs.

Recall that earlier ESL Gaming belonged to the Swedish holding company Modern Times Group, which acquired a controlling stake in ESL in 2015.