Faze Clan fires CEO

[Accessing]

Former employees described mismanagement and excessive spending at the company, which was once valued at $1 billion.

Esports, a sector that traditionally relies on sponsorships for its revenue, has seen significant declines in the past few years as advertising budgets tighten. Multiple companies across the industry have made cuts. 

Faze Clan as some might know is a personal favorite to me, so I do post news around them as they influenced me long before to start what you all see today and is the forums. Now Faze clan is a mismanaged organization marked by poor spending decisions, excessive pay and expansion into unprofitable categories like esports. Notably, the company rented a series of luxury properties that incurred costs as high as $60,000 per month. Trink “took FaZe’s influencers to fancy Los Angeles steakhouses and wore a diamond-encrusted necklace featuring FaZe’s “F” logo,” the employees have said and well social media has shown us. 

Faze Clan is on its spiral out from the snipe montages of the past but to those that enjoyed it, I can't help but think what awaits them after.