Over the last decade or so, we have seen gaming move from being a niche hobby to big business and little else can epitomize this move more than the recent purchase of ESL by Savvy Gaming group. The German-owned ESL was bought alongside fellow league operator and tournament organizer, FACEIT for a combined fee in the region of $1.5 billion.
The new owners, Savvy Gaming group, are backed by the Saudi Arabia Public Investment Fund who were also very prominent in the recent acquisition of Newcastle football club.
What this means is that ESL and FACEIT will now be merged to form one entity, but according to a press release found on the ESL gaming website, the two entities will still operate independently in their chosen fields.
ESL is one of the biggest tournament organizers best known for its DOTA and CS:GO tournaments, but are also very active in the fighting game community with tournaments like DreamHack which means that this news is very interesting for the FGC.