FaZe Clan has recently been acquired by GameSquare which resulted in the founding members returning to power. With FaZe Banks as the new CEO, the Clan could finally make a return to its roots.
FaZe Clan has been in steady decline ever since the original members have been losing their influence within the organization. With how bad things had gotten, GameSquare has now been able to take over the esports organization, resulting in the founding members returning to power.
| Quick recap, what is FaZe Clan? FaZe Clan is one of the biggest esports and gaming organisations out there, with a huge cast of popular content creators, esports athletes and even some celebrities. It has an enormous fan base of more than 510 million people and wins trophies across multiple games. |
FaZe Clan Founders Return To Hopefully Lead The Organization Into A Bright Future
Over the last couple of years, FaZe Clan has been slowly losing its influence as well as money, as the esports organization has been losing touch with what made it successful in the first place.
With the leadership of the Clan being mostly composed of 50-year-old business dudes, that had no idea about gaming. Instead of expanding upon the companies' strengths, they decided to spend a lot of money on signing celebrities like Snoop Dogg which resulted in the organization's stocks dropping below $1.
The founding members of FaZe have been struggling for a while now to get their brand back, until recently when GameSquare acquired the clan, returning leadership over the organization to its original owners.
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.
— GameSquare Holdings Inc. (@GSQHoldings) October 20, 2023
Read the Full Press Release
https://t.co/gvbedZV9Bw pic.twitter.com/v8kkEh75kp
This sounds a little too good to be true, where's the hook? Well, in their announcement, GameSquare explained how they want to reestablish FaZe Clan's authenticity and use it as a subsidiary and independent division of GameSquare.
So I guess they want a piece of the cake after all!
Still, with the original owners now back in control, things are looking a lot better for FaZe Clan. If you're curious about who will lead the esports org. going forward, here you go.
- Richard “FaZe Banks” Bengtson will now be the CEO of FaZe Clan
- Thomas “FaZe Temperrr” Oliveira to be President of FaZe Clan
- Yousef “FaZe Apex” Abdelfattah to be COO of FaZe Clan
So these three will now be the people in charge and, as the announcement states, are focused on refreshing the FaZe Clan brand, re-engaging with its core fanbase and empowering individual FaZe Clan creators and their communities
Whether they will actually be able to make bring back FaZe Clan from the brink is up for debate, so we will have to wait and see what they're going to do now that they are back in control.