By Sagar V. Mankar GameSquare Holdings recently announced the sale of its premier esports team, Complexity Gaming, to an investment group led by Complexity’s founder Jason Lake.
This deal, worth $10.36 million, marks the end of an era for Complexity under GameSquare.
Complexity’s Performance Under GameSquare
After being acquired by GameSquare in 2021, Complexity saw tremendous growth under their ownership.
Their annual revenue increased 175% and social media followers grew 10x in just two years.
This growth made Complexity an attractive asset for acquisition.
Why Sell Complexity?
Last year GameSquare acquired another big esports team and one of the biggest rivals of Complexity, FaZe Clan.
This sparked the debate about how can the two rival teams thrive under the same promotion.
As certain esports leagues limit ownership of multiple teams, selling Complexity looks like done to avoid potential conflicts.
GameSquare can now focus on integrating FaZe into its digital media platform.
A Homecoming and New Era for Complexity
The sale represents a homecoming, with Complexity returning to the leadership of founder Jason Lake.
Founded in 2003 by Lake with John Goff and Jerry Jones, Complexity competes in Counter-Strike 2, Fortnite, Valorant, Apex Legends, FIFA, Halo, StarCraft 2, Clash Royale, Hearthstone, Madden, Magic, and Rocket League.
Lake is energized to write Complexity’s “next chapter” given his intimate knowledge of the organization.
Under Lake, fans can expect Complexity to aim higher as it embraces new opportunities.
What This Means For Esports
The deal also shows the dynamism of the esports landscape.
Organizations are consolidating, emerging powers are on the rise, and team valuations continue climbing.
This promises an exciting future for fans and players alike.
Source: Complexity.gg