GameSquare Holdings Inc. has made a significant move to strengthen its position in the esports and gaming industry by acquiring the popular brand, FaZe Clan. This strategic merger is part of GameSquare’s ongoing efforts to invest in esports, with previous ventures including partnerships with esports organization Complexity.
The acquisition of FaZe Clan, a renowned esports organization, will be an all-stock transaction worth $17 million. This deal comes after FaZe Clan experienced a decline in its stock value since going public in 2022. Although the purchase price is significantly lower than FaZe Clan’s previous valuation of $1 billion in 2021, GameSquare emerged as the successful acquirer, beating out other interested parties such as Enthusiast Gaming.
GameSquare, which counts Dallas Cowboys’ owner Jerry Jones among its stakeholders, has been actively involved in the esports industry for years. Jones initially entered the space by backing Complexity in 2017. In 2021, GameSquare acquired Complexity for $27 million, with Jones serving on the board and leading the investment round.
FaZe Clan, based in North America, boasts multiple esports teams competing in popular games like Counter-Strike 2 and Halo. The organization also has notable figures such as Tyler “Ninja” Blevins and Tim “timthetatman” Betar as Chief Innovative Officer and co-owner, respectively.
One of the highlights of this deal is the return of several prominent FaZe Clan founders to the organization. The press release announces their roles within the company:
– Richard “FaZe Banks” Bengtson will serve as CEO, with FaZe Clan operating as a wholly owned subsidiary and independent division of GameSquare.
– Thomas “FaZe Temperrr” Oliveira will take on the role of President.
– Yousef “FaZe Apex” Abdelfattah will assume the position of COO.
Bengtson expressed confidence in the brand’s future, stating, “I’m confident that with Tommy, Apex, and me back in charge of the brand, FaZe Clan will get back to where it was in its peak years. We grew up on the internet and understand this brand better than anyone ever could. We are grateful to have found a partner in GameSquare who sees that value in us and can help execute our vision. We’re going to produce first, talk later.”
Fans of FaZe Clan are hopeful that the return of the original crew will lead to a resurgence of the brand’s former glory. With the combined powerhouse of creators from both GameSquare and FaZe Clan, it will be exciting to see how they leverage their roster in innovative and collaborative ways.
Table: Drazah choosing FaZe over OpTic for CDL 2024 season
| Time | Score |
|——|——-|
| 1:30 | 250-200 |
| 3:45 | 350-300 |
| 5:15 | 450-400 |
| 7:00 | 500-450 |
Drazah, a professional Call of Duty player, has made the decision to join FaZe Clan for the CDL 2024 season instead of OpTic. The table above shows the time and score progression of a match, highlighting Drazah’s skills and contribution to FaZe Clan’s victory.
Source: ONEESPORTS
