FaZe Clan, the esports and gaming outfit that went public in July, may already be looking to reverse course, with the group considering a restructure that would take it private, sources tell SBJ’s Kevin Hitt. However, sources indicate that FaZe is struggling in such efforts.
In its most recent quarterly filing, FaZe reported that it had only $43.9 million in cash assets, which would be enough to fund itself until November. Sources tell SBJ that FaZe would need between $40 million and $60 million to restructure the group. That's a tough ask in today's esports ecosystem.
This week’s SBJ Esports newsletter also covers:
- Teams eye vertical integration for growth
- Hosting interest swells for NBA 2K League
