In a press release posted by Complexity today, it was revealed that an investor group led by Jason Lake, the organisation founded by Lake way back in 1998. In a deal worth $10 million, ‘Global Esports Properties’ has acquired Complexity in full from GameSquare Holdings, which bought the brand from Lake in 2021 for around $27 million. The sale was influenced by GameSquare’s desire to lighten its esports load following the acquisition of FaZe Clan, which cleared days ago.
Complexity currently fields teams in Halo, Rocket League, Counter-Strike, and Madden, and it has an array of top-tier content creators under its belt. As one of the most recognisable brands in esports, fans of the franchise are happy to see the organisation back in the hands of its founder.
‘An Epic Moment’
In the press release published on the Complexity website, the CEO of GameSquare, Justin Kenna, said:
‘Complexity is a leading esports organization that has experienced tremendous growth under GameSquare’s ownership, with annual sales increasing over 175% and a 10x increase in the number of aggregate social followers from 2021 to 2022. While it is bittersweet to sell Complexity, there is no one better suited to take over than Jason and his team.’
GameSquare recently moved to acquire FaZe Clan and restructure the organisation, putting the ‘OGs’ back in control of the company. For a while, FaZe was floundering under the weight of hefty financial struggles and layoffs, and the hope is that GameSquare can revitalise the legendary brand.
Jason Lake, now the CEO of Complexity, said:
‘This is an epic moment in the history of Complexity and we’re grateful for this exciting opportunity. I’d like to thank the Jones and Goff families and everyone at GameSquare for our years of successful collaboration. Together we’ve significantly grown Complexity’s revenues and built a financially stable organization. It’s now time to write the next chapter in our legendary story and I’m confident our loyal fans will greatly enjoy the years ahead.’
Global Esports Properties will pay a total of $10.36 million to acquire Complexity in full. This will unravel over three years, with an initial transaction of $750,000 being paid to GameSquare when the deal is closed. All that stands in the way of the deal is approval by the TSXV (Toronto Stock Exchange).
As an esports fan, are you happy to see Complexity back in the hands of Jason Lake?
For more industry news, Esports.net
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