Saudi-backed group buys ESL for $1bn Eurogamer.net If you click on a link and make a purchase we may receive a small commission. Read our editorial policy. Saudi-backed group buys ESL for $1bn And esports platform Faceit for $500m. News by Tom Phillips Deputy Editor Updated on 25 Jan 2022 37 comments The Savvy Gaming Group, which is backed by Saudi Arabia's controversial Public Investment Fund (PIF), has bought the ESL for $1bn. The group has also snapped up popular esports platform Faceit for $500m, and will now merge the two. Purchases by the PIF have regularly hit the headlines, as it is widely-seen as a positive PR-creating front for the Saudi Arabian regime - and a lucrative plan to help the country continue to grow as the world transitions away from oil. Last year, the PIF was revealed to have quietly bought up $3.3bn in shares of EA, Take-Two and Activision Blizzard, equating to a 3.5 percent ownership of the latter two. Outside of gaming, it was revealed the PIF had also acquired large stakes in other familiar companies - such as $1bn in live events conglomerate Live Nation Entertainment, and $4.4bn in Uber. In 2020, the Saudi crown prince's flagship charity - the Mohammed bin Salman Charitable Foundation "Misk" organisation - bought a third of Japanese game developer SNK. Riot, meanwhile, U-turned on its plans for a sponsorship deal with bizarre Saudi city project Neom (planned to promote tourism by including robot dinosaurs, flying cars and a giant artificial moon) after significant criticism from League of Legends fans. Most recently, the PIF spent $409m to own 80 percent of Newcastle United. The Times reported today that the club would be the focal point of a "global plan" to purchase other sports teams around the world. The Saudi crown prince is a noted video games fan who has previously said he enjoys Call of Duty. He has also been blamed by the CIA for the assassination of Washington Post journalist Jamal Khashoggi, while his rule of Saudi Arabia has kept up the country's notoriously poor human rights record. For example, homosexuality is still criminalised - with punishments ranging from floggings to the death penalty. "Our mission remains unchanged: to create a world where everybody can be somebody," ESL co-CEO Craig Levine said today. "Our merger with FaceIt, along with the backing of SGG, will give us more know-how, capabilities, and resources than ever before to deliver on this vision." Become a Eurogamer subscriber and get your first month for £1 Get your first month for £1 (normally £3.99) when you buy a Standard Eurogamer subscription. Enjoy ad-free browsing, merch discounts, our monthly letter from the editor, and show your support with a supporter-exclusive comment flair! Support us View supporter archive More News Atari will hold RollerCoaster Tycoon rights for another decade Ups and downs. 7 Lady Dimitrescu will be a tad smaller in Resident Evil Village's Mercenaries DLC Level the playing field. 1 Overwatch 2 suffers another DDoS attack and character roster bugs Mei Mei. 7 Nintendo Switch firmware update lets you take screenshots in the Switch Online app The app on your console, not your phone. 7 Latest Articles Atari will hold RollerCoaster Tycoon rights for another decade Ups and downs. 7 Jelly Deals Logitech's G Pro X gaming headset is its lowest-ever price during Amazon's Early Access sale Prime Members can get it for just £52. Jelly Deals Save over £500 off the retail price on this beefy ASUS TUF Dash gaming laptop from Amazon Under £1080 for an RTX 3070 laptop. Lady Dimitrescu will be a tad smaller in Resident Evil Village's Mercenaries DLC Level the playing field. 1 Supporters Only Premium only Off Topic: Take a minute to appreciate Cookin' with Coolio's incredible scallops recipe. What a great book. Premium only Off Topic: Reading City of Glass in comic form "Where exactly am I going?" Premium only Off Topic: Il Buco is a transporting film about a really big hole Underlands. Off-Topic Netflix handled Sandman brilliantly It was Dreamy. 9 Buy things with globes on them And other lovely Eurogamer merch in our official store! Explore our store