GameSquare Sells 25.5% Interest in FaZe Media for $9.5 Million

GameSquare Holdings, Inc. announced the sale of a 25.5% interest in FaZe Media to an entity controlled by FaZe Media's CEO FaZe Banks. The transaction is valued at $9.5 million. This follows a recent $11 million investment by Matt Kalish, through which he acquired a 49% stake in FaZe Media. These transactions value FaZe Media at approximately $40 million.

GameSquare retains controlling voting interest in FaZe Media and continues to wholly own FaZe Esports. The company will also maintain the consolidation of FaZe Media's financial results in its statements. The funds from the sale will support GameSquare's growth and working capital requirements.

FaZe Media aims to expand the FaZe brand's licensing and sponsorship opportunities while maintaining creative control. GameSquare's strategy focuses on leveraging their esports experience and industry growth to maximize the brand's long-term value.