According to an official business update, Qiddiya Investment Company has acquired full ownership of the Evolution Championship Series (EVO), consolidating control of the iconic Saudi-backed fighting game tournament. Despite the change in ownership, organizers stressed that EVO's “traditions, values and identity will remain unchanged.” The Evolution Championship series has officially entered a new era.
EVO's reputation in the fighting game community is significant. Founded in the late 1990s as a grassroots event centered around arcade competitions, it has grown into one of the most prestigious esports tournaments in the world, with some of the largest tournaments for Super Smash Bros. and other iconic titles such as Street Fighter, Tekken, Mortal Kombatand Guilty Gear. It routinely draws thousands of competitors and hundreds of thousands of viewers online. The open bracket format, where anyone can enter, has long been considered central to EVO's identity.
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Qiddiya now owns EVO, the event schedule remains unchanged
In their official statement, EVO management sought to reassure fans and competitors that the tournament's community-driven foundation will not change. “Under RTS ownership, Evo's traditions, values and identity will remain unchanged, with a continued focus on serving players, fans and publishers at all levels of the industry,” the statement read. The organization also confirmed that current CEO Stuart Saw will remain in his position, signaling continuity in day-to-day operations. The update confirms that RTS, a subsidiary of Qiddiya, has purchased the remaining stakes previously held by Sony Interactive Entertainment and NODWIN Gaming.
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This move gives Qiddiya full control of EVO's global operations, including its flagship Las Vegas as well as international tournaments such as EVO Japan and EVO France. The acquisition is in line with Qiddiya's broader investment in global gaming and esports initiatives. The Saudi-backed developer has built an expansive gaming and esports district as part of its larger entertainment and tourism strategy. By bringing EVO under its umbrella, Qiddiya secures one of the most recognizable brands in competitive fighting games, potentially positioning the tournament as a centerpiece of its long-term esports ambitions.
While EVO leadership's message focuses on stability, the change in ownership has sparked conversation in the gaming community. Saudi Arabia has invested heavily in sports and entertainment in recent years, acquiring stakes in major organizations and organizing large-scale events. Some observers see the EVO acquisition as part of the larger strategy to expand its influence in global entertainment sectors. For many fans, the central question is what this means for the future of EVO. The official announcement did not outline immediate structural changes, nor did it suggest moving existing tournaments. The 2026 table, including EVO Las Vegas, EVO Japan and EVO France, remains on the schedule, so a situation like the canceled EVO event in 2020 should not play out again. But with full ownership now in Qiddiya's hands, the long-term direction of the brand will be closely watched.
EVO's growth over the past decade has already been significant. Under previous ownership, the tournament became a well-known destination for both beginners and fighting game experts to soak up the FGC atmosphere. If Qiddiya continues to invest resources into the brand, the tournament could see even greater global reach, potentially introducing new venues, higher stakes competition and expanded regional circuits. At the same time, EVO's identity has historically been tied to its community roots. The official assurance that “traditions, values and identity will remain unchanged” seems designed to directly address these concerns.
For now, EVO competitors and fans can expect business as usual heading into the 2026 competition season. The full impact of the change in Sony's ownership of EVO will likely become clearer over time as Qiddiya outlines his long-term plans for the tournament. What remains certain is that one of the most iconic events in fighting game history has entered a new chapter. Whether that chapter represents simple financial backing or a broader transformation of the brand, the global fighting game community will be watching closely in the coming months and years.
