ESL Gaming Sold for $1 Billion to Savvy Gaming Group


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Modern Times Group has reportedly sold ESL Gaming, the esports organization, to Savvy Gaming Group for $1 billion, according to German news site Handelsblatt. ESL Gaming hosts some of the biggest esports tournaments in the world, most notably ESL One.

Savvy Gaming Group is supported by the Saudi Arabian government’s Public Wealth Fund. The same fund recently bought Newcastle United football club.

ESL Gaming was formed in 2020 from the merger of ESL and Dreamhack, both of which were owned by MTG at the time. Craig Levine and Ralf Reichert, co-CEOs of ESL, became co-CEOs of ESL Gaming. Both were major event operators in the space.

Other major esports tournament organizers include Major League Gaming, Gfinity, and Blast Premier. However, none are quite as big as ESL Gaming, especially when the aforementioned merger happened.

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