Qiddiya Investment Company, backed by Saudi Arabia’s government, has acquired control of the Evolution Championship Series (EVO). The company bought RTS, which co-owns EVO alongside Sony Interactive Entertainment, giving Saudi Arabia a controlling stake in fighting games’ most prestigious tournament.
The deal puts EVO under the same Saudi investment umbrella that already includes ESL, FACEIT, and the Esports World Cup. Qiddiya itself is part of Saudi Arabia’s Public Investment Fund (PIF), the same sovereign wealth fund pumping billions into esports and entertainment worldwide.
EVO isn’t just any tournament. Since evolving from 1996’s Battle by the Bay, it’s become the Super Bowl of fighting games. Every summer, thousands of players converge on Las Vegas to compete in Street Fighter, Tekken, Mortal Kombat, and other titles. The event birthed legendary moments like Daigo’s parry in 2004 that still gets millions of views today.
Money talks, players walk?
The community response has been swift and divided. Popular commentator Sajam announced he won’t work at EVO anymore. Other prominent figures are stepping back from the event they once considered home. But many competitors face a tough choice between their principles and their livelihoods in a scene where prize money has historically been scarce.
No immediate changes to EVO’s format, location, or game lineup have been announced. The tournament remains scheduled for Las Vegas, and Sony maintains its partnership stake. But with Saudi money now controlling the show, questions swirl about future prize pools, qualification systems, and potential ties to other Saudi-backed events like the Esports World Cup.
