ESL Reportedly Sold for $1 Billion to Saudi-Funded Group

ESL has been acquired by a Saudi-backed investment group for $1 Billion USD, according to a report from Sports Business Journal. Before the acquisition, The Modern Times Group's ESL was one of the most renowned esports tournament organizers with over 600 employees. It has hosted numerous tournaments in multiple continents across various titles including Dota 2, CS:GO, and StarCraft II under the ESL One, ESL Pro League, and Intel Extreme Masters IPs.

It also operates tournaments for mobile esports titles like Brawl Stars, Wild Rift and PUBG Mobile with its ESL Mobile division.

What you need to know about Savvy Gaming Group’s $1 Billion acquisition of ESL

The news of Savvy Gaming Group’s acquisition of ESL was first reported by German outlet Handelsblatt. Savvy Gaming Group, is headed by CEO Brian Ward (a former Activision executive) who works alongside Jerry Gamez (CEO of Savvy's infrastructure company) and Kadri Harma (CEO of Savvy's ecosystem company). The company is backed financially by the Saudi Arabian government’s Public Investment Fund (PIF). With approximately $500 Billion worth of assets under its management, it is one of the world’s largest sovereign wealth funds. This is likely the PIF’s first foray into esports.

ESL (formerly known as Electronic Sports League) was founded in 1997 and has since grown to become one of the world’s leading tournament organizers. In July 2015, The company was acquired by the Modern Times Group (MTG) who bought 74% of its share for $86 Million. Following this, it also merged with DreamHack in September 2020 to form ESL Gaming.

ESL Gaming currently boasts a variety of tournament IPs in various esports titles and has partnered with multiple non-endemic sponsors like Mercedes Benz, the U.S. Airforce, and DHL for its tournaments.

This acquisition is perhaps the biggest in esports history and could have a massive impact on the industry across all regions.