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ESL & FACEIT sold for reportedly $1.5bn

Savvy Gaming Group and The Deal with ESL & FACEIT

Savvy Gaming Group, backed by the Saudi Public Investment Fund, has successfully acquired the huge organization; ESL, and the substantial eSports platform; FACEIT. It is known that ESL is one of the largest companies in the whole world to ever organize enormous tournaments and competitions such as ESL One, Intel Extreme Masters, ESL Pro Tour, and many more. We must not forget that FACEIT also hosted one of the most momentous majors in the Counter-Strike: Global Offensive which was; the FACEIT Major - London (2018). That deal has cost Saudi Arabia’s sovereign wealth fund $1.5 billion, making the fund-owned company dominate the field of organizing esports competitions in the world. It was revealed that FACEIT has cost $500m while ESL also has cost $1bn.

The Public Investment Fund

Public Investment Fund (PIS) is the sovereign wealth fund of the Kingdom of Saudi Arabia. It was established in 1971. It is considered among the largest sovereign wealth funds in the whole world as it is ranked seventh with total assets estimated at $430 billion. Yasir bin Othman Al-Rumayyan is a Saudi businessman who is Governor of the Public Investment Fund (PIF), the sovereign wealth fund of the Kingdom of Saudi Arabia, the Chairman of Newcastle United, and the Chairman of Saudi Aramco.