Complexity are back under Jason Lake’s ownership.
GameSquare have announced the sale of Complexity to former owner Jason Lake for over $10 million. GameSquare acquired Complexity back in 2021 from Jason Lake. Mr Lake remained involved with Complexity throughout this period.
GameSquare recently acquired FaZe Clan, meaning both organisations were under the same ownership. This created some rumblings of conflict of interest in certain games, including in Counter Strike.
Jason Lake buys Complexity
Rumors of the $10 million dollar deal emerged in late 2023. Jason Lake reportedly aimed to strike a deal to ensure Complexity remained completely separate from FaZe Clan. If tournament leagues ruled a on a conflict of interest with the two organisations having the same ownership, that could have forced GameSquare to consider merging the two teams.
This deal will alleviate fans' concerns over the potential for FaZe and Complexity to either drop teams or merge to meet conflict of interest rules.
Jason Lake has been involved with Complexity throughout its history. He was an initial founder of the organisation in 2003. In 2017, Lake sold a majority stake in Complexity to Dallas Cowboys owner Jerry Jones and investor John Goff. He retained a stake in the organisation.
In 2021, GameSquare bought Complexity for $27 million in full. At the time, Lake became a significant shareholder in the now parent company of the organisation.
GameSquare hired Lake as the Global Head of Esports to lead its Esports division after the purchase.
Complexity sold at a loss, despite increased revenue
In the announcement of todays' deal, GameSquare point to a "175%+ increase in Complexity's sales under their ownership." However, the sale price to Jason Lake is far below what they initially paid back in 2021.
However, the deal has added complexities. GameSquare will be due a 50% share of any equity raised by Complexity above $500,000.
In a statement, Jason Lake states that Complexity are "financially stable" and thanks GameSquare for their four years of successful collaboration.
The news will open a new chapter for Complexity, and put to rest a period of uncertainty about the organisations future. Complexity currently compete in Counter Strike, Rocket League, Madden and Halo. They also have an Apex Legends team, signed as content creators.