GameSquare to acquire FaZe Clan

After financial troubles following a troubled public listing, FaZe Clan and its esports teams are set to be acquired by GameSquare, in a deal expected to close by year-end.

The merger, expected to conclude in the fourth quarter of 2023, entails GameSquare shareholders owning approximately 55% of the combined entity, with FaZe Clan shareholders holding about 45%.

Following this merger, Richard “FaZe Banks” Bengtson will take the helm as FaZe Clan's CEO, with a strategic vision to establish a leading content, media, and entertainment company centered on gaming, esports, and youth culture.

Potential complications arise due to ESL's rule (section 2.11.3.1) prohibiting one organization from fielding multiple teams, and Valve maintaining stringent regulations against shared financial interests and conflicts of interest, casting uncertainty on the teams' participation in these events.