Jason Lake exploring Complexity acquisition
A report from HLTV this afternoon suggests that Complexity CEO Jason Lake is looking to purchase his storied brand back from GameSquare. Complexity was first acquired by Jerry Jones in 2017 before later being sold to GameSquare in 2021 as part of an all-stock deal worth $27 million.
The move comes as GameSquare finalizes its acquisition of FaZe, prompting conflict-of-interest concerns as both teams are not only involved as partner teams in ESL and BLAST, but have played one another several times in recent memory. The most recent meeting between the two was at the BLAST Premier Fall Final semifinals.
Despite GameSquare announcing on October 20th that they had reached a definitive agreement to acquire the struggling organization, they have yet to formally closed the all-stock transaction as the end of the year approaches. When contacted by Dust2.us, an ESL spokesperson said that the organization will "continue to monitor the situation with all parties involved. Whilst this is ongoing, both teams have been invited to compete in Intel Extreme Masters Katowice 2024."
Sources close to HLTV say the deal could still take months to complete, allowing Jason Lake to raise funds to re-acquire Complexity as the two organizations remain separate. Lake has reportedly been on a roadshow with trips to Dubai and Abu Dhabi to secure investment ahead of this potential move.
The move implies that GameSquare will prioritize FaZe's esports properties ahead of Complexity. The two organizations share teams in Counter-Strike and Halo, leading to those conflict-of-interest concerns. BLAST Commissioner Andrew Haworth told HLTV that the deal as initially presented had posted "challenges of competitive integrity." For Lake to remove himself and Complexity from the GameSquare empire would resolve those concerns.
Complexity has enjoyed a recent run of success with their Counter-Strike team thanks to a second place finish at IEM Sydney and a top four finish at BLAST Premier Fall Final. However, the team has stumbled at ESL Challenger Atlanta and Elisa Masters Espoo 2023 while finishing out their year.
