{"id":34457,"date":"2024-02-27T20:00:54","date_gmt":"2024-02-28T01:00:54","guid":{"rendered":"https:\/\/esportbet.com\/?p=34457"},"modified":"2024-02-27T20:00:54","modified_gmt":"2024-02-28T01:00:54","slug":"gamesquare-shareholders-approve-faze-clan-merger","status":"publish","type":"post","link":"https:\/\/esportbet.com\/gamesquare-shareholders-approve-faze-clan-merger\/","title":{"rendered":"GameSquare shareholders approve FaZe Clan merger"},"content":{"rendered":"

Shareholders of GameSquare Holdings, the parent company of Complexity Gaming, have officially approved the proposed merger with FaZe Clan.<\/p>\n

The merger, valued at approximately US$17 million according to numerous sources, is expected to close shortly pending standard closing conditions.<\/p>\n

Jason Lake, CEO of Complexity, acknowledged the potential conflict of interest between Complexity and FaZe in a statement.<\/p>\n

He assured that steps would be taken to ensure fair play despite any conflicts that may arise from the merger.<\/p>\n

The acquisition of FaZe Clan by GameSquare was announced late last year, following financial struggles faced by FaZe Clan after a challenging public listing.<\/p>\n

The deal was initially expected to close in the fourth quarter of 2023 but experienced delays.<\/p>\n

Both GameSquare and FaZe Clan have expressed confidence that the merger will be finalized soon.<\/p>\n

Prior to the shareholder vote, GameSquare’s Board of Directors unanimously recommended approval of the acquisition.<\/p>\n

FaZe Clan shareholders had already voted in favour of the merger in a meeting held on February 16, with 91% approval.<\/p>\n

The merger between GameSquare and FaZe Clan marks a significant development in the esports industry, as consolidation becomes increasingly common to manage costs and navigate market changes.<\/p>\n

However, concerns about conflicts of interest have been raised, particularly regarding the competitive integrity of Counter-Strike<\/a> tournaments where both Complexity and FaZe Clan participate, such as the BLAST Premier Series<\/a> and ESL Pro League<\/a>.<\/p>\n

Jason Lake had previously expressed interest in reacquiring Complexity from GameSquare, potentially offering a solution to mitigate conflicts of interest.<\/p>\n

Meanwhile, tournament organizers like ESL<\/a> and BLAST are closely monitoring the implications of the merger on competitive integrity within the esports scene.<\/p>\n

\n

More esports news<\/a><\/p>\n

\n","protected":false},"excerpt":{"rendered":"

Shareholders of GameSquare Holdings, the parent company of Complexity Gaming, have officially approved the proposed merger with FaZe Clan.<\/p>\n","protected":false},"author":15,"featured_media":19928,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ghostkit_customizer_options":"","ghostkit_custom_css":"","ghostkit_custom_js_head":"","ghostkit_custom_js_foot":"","ghostkit_typography":"","footnotes":""},"categories":[3],"tags":[1957,1532,3111,22,430,127,1976],"class_list":["post-34457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blast-premier","tag-complexity","tag-counter-strike-2","tag-esl","tag-esl-pro-league","tag-faze-clan","tag-gamesquare"],"yoast_head":"\nFaZe Clan & GamerSquare Merger Given Green Light<\/title>\n<meta name=\"description\" content=\"Shareholders of GameSquare Holdings, the parent company of Complexity Gaming, have officially approved the proposed 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