Legacy esports organization FaZe Clan has been bought by GameSquare, another esports company geared more towards acquisitions and promotions rather than the gaming and streaming content FaZe produces itself. The acquisition follows a tumultuous period for FaZe Clan on the stock market which got so dire that the organization risked being delisted entirely. With GameSquare now the new owners, some familiar names will be returning to the company with Richard "FaZe Banks" Bengtson and others coming back to the company and taking on new leadership roles.

Of the various esports orgs that have popped up over the years, FaZe Clan remains one of the most predominant names in the industry even if their influence has waned over time as indicated by their stock market woes and the move to be acquired in the first place. Both GameSquare leaders and returning FaZe Clan bosses shared comments about the acquisition as part of the joint announcement where they outlined plans to return FaZe Clan to "where it was in its peak years."

FaZe Clan Bought

The acquisition of @FazeClan brings together two complementary businesses to create one of the world’s leading content, media and entertainment companies focused on gaming, esports, and youth culture.

Read the Full Press Release
👉 https://t.co/gvbedZV9Bw pic.twitter.com/v8kkEh75kp

— GameSquare Holdings Inc. (@GSQHoldings) October 20, 2023

With FaZe Banks returning as CEO, he'll be joined by Thomas "FaZe Temperrr" Oliveira as president and Yousef "FaZe Apex" Abdelfattah as COO (there's no sign of Snoop Dogg returning).

"The gaming community represents one of the largest and most engaged segments of the attention economy," said GameSquare CEO Justin Kenna. "The acquisition of one of the biggest names in gaming serves as a perfect illustration of how we have built a powerful infrastructure with expansive scale that we can use to leverage the full spectrum of resources within the GameSquare ecosystem. We are also thrilled to welcome back the founders of FaZe Clan and their fans, one of the most deeply engaged communities born on the internet."

FaZe Banks shared similarly optimistic comments and expectedly looked ahead to a strong future for FaZe Clan with previous leadership now reinstated.

"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," said FaZe Banks. "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."

We are proud to announce that gaming and pop culture phenomenon Tyler "@Ninja" Blevins has joined the Gamesquare leadership team as Chief Innovation Officer. pic.twitter.com/PQ0VobGLUh

— GameSquare Holdings Inc. (@GSQHoldings) February 22, 2023

Some of the other orgs owned by GameSquare include the esports group Complexity, and talent under the GameSquare brand includes Tyler "Ninja" Blevins who serves as the chief innovation officer within the group.

Aside from FaZe Clan's ongoing participation in different esports tournaments, particularly those involving shooters like Call of Duty, the org has also tried branching out in different mediums like comics, though how well those efforts went depends on who you ask. FaZe Clan has also notably been embroiled in more than one controversy over the years involving things ranging from cryptocurrencies

Posted: Oct 24, 2023 8:09 am
Related Forum: Gaming Discussion

Source: https://comicbook.com/gaming/news/faze-clan-bought-by-gamesquare/