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FaZe Clan faces uncertain future as creators exit after failed talks

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Read/Write Web 

Professional esports and entertainment brand FaZe Clan is facing another major turning point after all six remaining members of its influencer lineup announced their exits following the collapse of contract negotiations with new leadership.

Adapt, Jason, Ronaldo, Lacy, Rage and Silky each confirmed their departures on X. The six had been the only creators listed on the organization’s official roster.

FaZe Clan influencers exit following unsuccessful negotiations

“14 Years,” Adapt wrote online. “Over half my life, I’d be lying if I said this didn’t hurt, but it had to be done.”

The organization responded publicly through its official X account, acknowledging the end of an era.

“It’s heartbreaking to see this era of FaZe come to a close. It’s beyond tragic the way it all ended, it’s been an emotional few days.

“We wish the boys the best not only as creators, but as people too. FaZe has always felt like a family, so we will always unconditionally root for and support them.

“FaZe eSports has always operated as a separate entity, nothing on that side will change. Rather it will become our main focus moving forward.”

Former FaZe chief executive Richard “Banks” Bengtson also issued a public statement expressing regret and finality.

“This is the end of @FaZeClan

“I wish you guys could see my heart. I’m sorry to everyone I let down, sincerely. I really tried my best.

“Wishing everyone involved a happy, healthy & successful life moving forward.

“It’s over. I give up. I quit. Amen.”

Investors say company is no longer workable

According to Matt Kalish, chief executive of Hard Rock Digital and an investor in FaZe, the company’s financial setup was no longer viable. Kalish said he presented the creators with two options, which included operating independently or entering new agreements backed by Hard Rock. Discussions ended last week, and he said the company will now proceed without them.

“My best guess is they’re all good kids and have a lot of people in their ear and are confused,” Kalish told Bloomberg. He added that the organization had previously covered many of their living and operating costs.

A person familiar with the negotiations, who spoke on condition of anonymity, said the creators believed the proposed contracts were unfavorable. Talks had been ongoing for approximately six months.

Former FaZe member PlaqueBoyMax, who left the group in August, addressed similar concerns during a livestream.

“We have no control,” he said. “There was no control, and it’s like we’re puppets. At least that’s what it felt like. You get what I’m saying?”

Kalish, a cofounder of DraftKings, began investing in FaZe in 2023 and said he has contributed roughly $10 million over the past year and a half to support its creators and operations.

Founded in 2010, FaZe started as a collective of friends sharing gaming content online. The group later became a major force in esports and influencer culture, popularizing the model of creators living and producing content together while securing major sponsorships.

After going public in 2022 with expectations of a valuation near $1 billion, the company’s stock declined sharply as investors questioned the long-term sustainability of a business model centered on brand deals.

Leadership instability followed. In 2023, then-chief executive Lee Trink was removed amid disputes over spending and management decisions.

FaZe’s esports operations are now overseen by GameSquare Holdings Inc., which acquired the company’s parent entity for $17 million in 2023.

Featured image: FaZeClan via X

The post FaZe Clan faces uncertain future as creators exit after failed talks appeared first on ReadWrite.