Written by Dante Uzel on 18 June 2024 16:17
GameSquare has sold a 25.5% stake in FaZe Media for $9.5 million to an entity controlled by FaZe Media's CEO, FaZe "Banks". Recently FaZe Media received an $11m investment by Matt Kalish, acquiring 49% of FaZe Media in May 2024. These transactions value FaZe Media at approximately $40m. According to the release, GameSquare retains full ownership of FaZe Esports.
The focus will be on expanding licensing and sponsorship opportunities across various categories, alongside developing products, merchandise, events, and other initiatives under the FaZe brand.
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Justin Kenna, CEO of GameSquare stated, "Today's announcement is a win-win for GameSquare, FaZe Media, and the greater FaZe Clan community. Since completing the acquisition of FaZe Clan in March 2024 our strategy has been focused on reigniting the FaZe brand by returning its founders in a meaningful way. With the support of Matt Kalish and his direct investment in FaZe Media, we structured the new business as a creator-led IP and media company. Today's announcement solidifies this approach by providing access to a significant stake in the business and aligning FaZe's founders in the success of the brand."
Tags: FaZe Clan
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