Jason Lake buys back Complexity Gaming for $10M

GameSquare Holdings has announced the sale of Complexity Gaming, the storied esports organization, to Jason Lake and Global Esports Properties, for $10.36 million. The deal is set to close upon approval from the TSX Venture Exchange.

The figure is far below what Lake sold coL for in 2021 – $27 million.

In a press release, GameSquare says that Complexity Gaming experienced significant growth under their ownership, with sales soaring by over 175%. The org also brought on big-name streamers like Ninja and TimTheTatman as investors.

GameSquare CEO Justin Kenna expressed mixed feelings about parting ways with Complexity, but said it was a strategic move in preparation for GameSquare’s acquisition of FaZe.

Jason Lake, founder and CEO of Complexity, expressed gratitude for the successful collaboration with GameSquare and excitement for the future.

“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,” Lake said.

As part of the agreement, GameSquare will receive an initial payment of $0.75 million, with the remainder to be paid over three years. Additionally, GameSquare will receive a share of any additional funds raised by Global Esports.

With this transaction, Complexity enters a new chapter under Global Esports’ ownership, while GameSquare looks to replicate the success with FaZe, an org that has suffered numerous setback financially since going public.

After being made CEO, FaZe Banks posted on X/Twitter that all FaZe staff were being fired.