Official: Chiliz Group acquires 51% controlling stake in OG esports club

Chiliz Group announced on Tuesday that it has acquired a 51% controlling stake in OG esports club.

Chiliz Group is the parent company of the fan token platform Socios.com, which has partnered with OG since 2019. The platform issues and manages OG's Fan Tokens, which fans can use to vote in club events and redeem for rewards such as merchandise and tickets.

Founded in 2015, OG has grown into one of the most influential esports organizations in Europe, winning the Dota 2 International Championship in 2018 and 2019, earning over $26 million in prize money.

OG has also made significant progress in the CS2 arena in recent years. Their CS2 team is currently ranked 34th in the world and still has a chance to qualify for the StarLadder Budapest Championship.

Following the acquisition, Xavier Oswald, former OG co-founder and shareholder, will become the new CEO. Meanwhile, OG co-founders Johan Sundstein (ID: N0tail) and Sebastian Debus (ID: Ceb) will lead a new strategic initiative aimed at strengthening the team's competitive foundation and driving innovation at the intersection of esports and Web3.

“OG has always been about community and innovation,” said Alex Dreyfus, CEO and co-founder of Chiliz. “Since 2020, it has proven that fan tokens can create real economic value and meaningful engagement.”

“Having built a $100 million fan token ecosystem, OG is a perfect example of the value that is possible when we put fan tokens at the core of the fan economy.”

Xavier Oswald, incoming CEO of OG, added: “This marks the beginning of a new and bold era for OG. With Chiliz as our primary partner, we will scale our team, grow our global community, and unlock a whole new dimension of engagement through our Fan Tokens. We’ve always believed that fans should be at the heart of everything we do, and now we finally have the tools and support to make that vision a reality.”