‘You’re all fired’: Banks to lead FaZe again after GameSquare stockholders approve merger

The much-anticipated merger between GameSquare and FaZe Clan has been approved by shareholders today, with FaZe founder and chief executive Richard “FaZe Banks” Bengtson locked in and ready to run the show once more—and he’s already got plans to restore the brand to its former glory.

The merger, revealed last October, sees GameSquare lock arms with the gaming and esports giant officially after shareholders signed off on the order on Feb. 27. FaZe will join the likes of esports org Complexity, talent agency Code Red Esports, and creative production studio Fourth Frame Studios under the GameSquare banner. The first point of order: Give control of the FaZe brand back to the OGs.

Banks kept it short once news of the merger approval went public, simply saying “You’re all fucking fired” on X (formerly Twitter), following up on claims he made in a call with streamer Adin Ross last November (as shared by Jake Lucky at the time). In the call, Banks said his first move after returning to the brand would be to “chop everyone’s fucking heads off,” likely referencing newer members of the org who took control after FaZe’s initial merger with BPRM three years ago.

FaZe’s returning chief executive originally said last October the next era of FaZe Clan wouldn’t come to fruition until the pen was put to paper, but he’s “excited to have the keys again” and is “praying these partners are different.” Banks heads up the “new” FaZe leadership team, which consists of fellow co-founders Thomas “Temperrr” Oliveira as the org’s president and Yousef “Apex” Abdelfattah as chief operating officer.

GameSquare and FaZe anticipate the final merger transaction will be “confirmed shortly, subject to the satisfaction of customary closing conditions,” according to the shareholder report today. The approval puts an end to all rumors about the future of the merger, which had been on hold throughout the end of 2023. FaZe shareholders voted to approve the merge earlier this month, with GameSquare’s confirmation today the final piece of the puzzle.

GameSquare moved to acquire FaZe last year following its stock price plummeting 12 months after it went public on the NASDAQ. Peaking at over $17 a share, FAZE fell below $1 in January 2023 and was at rock bottom at the time of the merger.

Shares in FaZe Clan (FAZE) are selling at around $0.21 a unit today.