Chiliz Group, a blockchain provider for the sports and entertainment industry, has announced the acquisition of a 51% controlling stake in European esports organization OG Esports. The company shared the news on its official website.
As part of the deal, OG co-founder Xavier Oswald is returning to the organization to take on the role of CEO. Meanwhile, fellow co-founders Johan n0tail Sundstein and Sébastien Ceb Debs will lead a new strategic project aimed at strengthening the club’s competitive foundation and driving innovation at the intersection of esports and Web3.
It’s worth noting that earlier rumors suggested OG had been facing serious financial difficulties and was behind on paying out prize winnings from Dota 2 tournaments.
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