GameSquare shareholders approve merger with FaZe

The deal, which has been in the works since last year, is finally set to be completed.

It has been announced that the shareholders of GameSquare, parent company of Complexity, have approved the proposed merger deal with FaZe. GameSquare and FaZe have said they "anticipate the transaction closing shortly, subject to the satisfaction of customary closing conditions."

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FaZe to be acquired by Complexity parent company GameSquare

Due to Valve's Major rulebook, PGL required all teams to declare potential conflicts of interest ahead of their participation in the RMRs. Today they released a statement by Jason Lake, CEO of Complexity, which acknowledged the potential future conflict of interest between Complexity and FaZe, and went on to say "we intend to ensure no conflicts impede fair play if and when that transaction happens."

It was originally announced late last year that the FaZe Clan brand would be acquired by GameSquare, the news coming in the wake of FaZe Clan experiencing financial struggles following a disastrous public listing. The deal was valued at an approximate $17 million, according to Bloomberg.

GameSquare already count Complexity amongst their portfolio, meaning should the acquisition be finalized, FaZe and Complexity would be in breach of both ESL's rules and the official Counter-Strike Major rulebook regarding conflicts of interest. Both BLAST and ESL also stated that they would be monitoring the implications of the deal.

In December of last year, HLTV reported that Jason Lake was looking to reacquire Complexity from GameSquare, offering a potential solution to the conflict of interest.

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Sources: Jason Lake looking to reacquire Complexity from GameSquare