GameSquare divests its shares in FaZe Clan

After a while of being run by executives and corporate folk less privy to the ways of esports and influencer culture today - a period that led to FaZe Clan becoming a publicly traded company and then proceeding to lose the majority of its value and worth on the ruthless stock market - the esports team has been going through a phase where control is being reacquired by its original founder.

This has meant significant cutting of the fat, and many members being released from their contracts, all while FaZe returns to what it was once best known for, competitive prowess, and this is continuing with the latest development.

Parent company GameSquare has decided to divest its 25.5% stake in the organisation, handing operational control back to CEO Richard "FaZe Banks" Bengston. This is simply part of an effort to continue growing and seeing the team generate wealth, as GameSquare is still the owner of the team, despite relinquishing control over how it operates.

In a press release, GameSquare CEO Justin Kenna stated: "2024 was a transformative year for GameSquare highlighted by the completion of the FaZe Clan acquisition, investments to our team and global capabilities, and the next-generation media platform we have created to drive cross selling opportunities and grow our market share. As we look to 2025, today's announcements are important catalysts to optimize our business model and reach profitability in the coming quarters."

This decision will lead to the creation of a new division by GameSquare that is specialising in event work, with a specific focus on real-life experiences that target top brands and talents.