Modern Times Group has sold ESL to Savvy Gaming Group for $1 billion, as first reported by Sports Business Journal. The sports tournament organization is one of the largest organizations in the business world and hosts the most prestigious sporting events.
“Savvy Gaming Group is led by former Activision Senior Vice President CEO Brian Ward.
What makes this story unique is that Savvy Gaming Group is financially backed by the Saudi government’s Public Investment Fund.
.@MTGABS @ESL Sold to Savvy Gaming Group for $1 billion, financially backed by the Saudi government’s Public Investment Fund https://t.co/2yFgMpv1DC pic.twitter.com/STYVESKysn
— Esports Observer (@esportsobserved) January 24, 2022
In 2020, BLAST and LEC announced a deal with Neom, which is expected to be in contention in Saudi Arabia. Less than a month later, BLAST and LEC called off their individual partnerships due to public pressure and opposition from a large number of esports individuals to the partnership.
ESL is known for its massive CS:GO and Dota 2 tournaments, as well as the standalone CS:GO League. It is currently unknown what he will do after leaving office.
Source : dbl tap
