esl-and-faceit-acquisition-criticised-over-saudi-arabia-government-ownership ESports News UK

ESL and Faceit acquisition criticised over Saudi Arabia government ownership

Two major esports tournament providers, ESL and Faceit, have joined forces under controversial circumstances. They willl now be owned by Savvy Gaming Group (SGG), which is 100% owned by Saudi Arabia’s sovereign wealth fund – its government’s Public Investment Fund. Savvy Gaming Group has acquired ESL from Modern Times Group (MTG) for $1.05bn, and has purchased Faceit for a reported $500m. SGG is headquartered in Riyadh, Saudi Arabia. The move – first reported by Handelsblatt – has been criticised by pockets of the esports community for Saudi’s human rights record. Continue reading ESL and Faceit acquisition criticised over Saudi Arabia…