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Esports groups ESL and FACEIT have been purchased for a total of $1.5 billion today, shocking fans of the two organizations.
ESL is the world's number one independent esports company, while FACEIT is the world's leading digital destination for esports players. Merging the two best places for esports seemed to be the Savvy Gaming Group's mission, using their vast riches to create a new group out of the two.
Saudi-backed Savvy Gaming Group acquires ESL and FACEIT in $1.5 billion deal
The recent acquisition of the leading esports companies has left many fans wondering where the $1.5 billion came from and who this unheard-of Savvy Gaming Group actually is.
The company's CEO, Brian Ward, is a top figure in the gaming scene who has worked with EA, Microsoft, and Activision Blizzard. His leadership of the company gives it legitimacy, as he has had a very successful track record of working with some of the largest brands in the esports and gaming industry.
The company is also funded by the Saudi Arabian Public Investment Fund, meaning that the company has plenty of money to make investments in. This surplus of wealth has allowed them to buy two esports companies and combine them into a one-stop shop for the esports world.
Their official statement on the purchase highlights that their goal will be to make esports as accessible and consistent as possible:
"ESL and FACEIT have both been fundamental to the incredible growth of esports and competitive gaming globally, with over thirty years combined in the industry. Together, they will form a new driving force in the fast-growing but fragmented esports landscape at a critical time in the evolution of the industry. For the first time, gamers, publishers, and partners will have a consistent journey that could take them from casual competitions to arena events on one platform."
The huge purchase shocked many fans, who shared their reactions on Twitter.
Fans seemed divided on the merger as some celebrated the idea of the esports scene growing, while others held reservations against the backers of the Savvy Gaming Group, worried that the source of their funding isn't very inclusive when it comes to LGBTQ+ matters.
But will the funding company be as strict as some believe, or will they prove to be more inclusive? Will this merger improve the world of esports, or will it fail? Only time will answer these questions, but one thing is for sure, this merger is huge news for the world of esports, and it will be interesting to see how this purchase changes the scene.
