Sony sells EVO co-ownership stake to Nodwin Gaming but will remain a sponsor

Sony Interactive Entertainment has sold its ownership stake in the Evolution Championship Series, famously known as EVO, to NODWIN Gaming, an Indian esports and entertainment company owned by Nazara Technologies and backed by Sony Group Corporation.

The financial details of the transaction remain undisclosed, positioning NODWIN as the new majority shareholder and co-owner of the premier fighting game tournament. Despite relinquishing its ownership of EVO, SIE has stated its commitment to sponsoring EVO globally through 2028, to make sure the event grows and maintains its status in the fighting game community.

This announcement was made via a “Business Update” blog post on the official EVO website, where the tournament described this shift in ownership as “a major step forward” in its evolution. SIE Vice President and Head of Global Partner Development and Relations, Phil Rosenberg, commented on the transition and said:

“When SIE acquired EVO alongside RTS in 2021, our goal was to help the EVO community grow and spotlight the skills and passion of fighting game fans on a global stage. As SIE transitions to become an EVO sponsor, the momentum for EVO has never been stronger, following a successful Las Vegas event and upcoming expansion to new regions.

We look forward to supporting the continued growth of EVO globally.”

This change of ownership comes amid EVO’s ongoing expansion, following a record-breaking 2025 event in Las Vegas, which attracted over 10,000 competitors across games like Street Fighter 6, Tekken 8, and Mortal Kombat 1. EVO is expanding, with plans for new regional tournaments, including a debut in Europe.

NODWIN has been on an acquisition spree, recently acquiring entities like AFK Gaming and others to cement its global footprint. The company has raised a total of $63 million in funding across five rounds from investors like Sony and Pratithi Investments.

The update also introduced Qiddiya, a Saudi Arabian entertainment and gaming initiative, as the new global partner for EVO and an investor in RTS.

While SIE steps back from its ownership role, its aim to maintain sponsorship suggests the company is determined to maintain PlayStation’s prominence at EVO events, which could include showcases of upcoming products such as the recently announced FlexStrike fight stick, and playable demos of upcoming fighting games like Marvel Tokon: Fighting Souls.