FaZe Clan has secured a $30 million CAD loan agreement heading into 2020, the esports and entertainment giant announced this week, after entering a convertible loan facility with one of Canada’s leading credit providers.
As one of the biggest names in esports, and entertainment, FaZe has certainly risen high since its inception in 2010. Once a simple gaming clan sharing highlight reels on YouTube, the company has grown into a multi-title esports empire.
Now, with the help of financial advisor Canaccord Genuity, the gaming clan has secured a whopping C$30 million loan — an estimated US$22.7m, or £17.3m — to help them continue to expand their gaming empire well into the new decade.
While some may expect to see FaZe turn their new investment pool into a dedicated esports facility in a similar vein to the new 100 Thieves Cash App Compound, dubbed “the biggest esports headquarters in North America,” or Team SoloMid’s $13 million, 25,000 sq. ft home base in Playa Vista, the org has other plans.
According to Head of Esports Erik Anderson, anything on a grand scale like that are “a bit further off” for the gaming empire that started as FaZe Sniping a decade ago, especially considering the global reach of their rosters.
“I get why some of the teams are putting those facilities in place. [However], there’s ample boot camp space out there for our teams to use [while] traveling the world.” Anderson told the Esports Observer in late 2019.
FaZe had to consider its “many players around the world,” Anderson explained, and added “until [the clan] consolidates everybody in one place,” the org would steer clear of building developments: “We don’t think it’s fully necessary."
Those stars around the world come in all shapes and sizes for FaZe. As well as competing in titles like Fortnite and FIFA, the clan competes on multiple fronts in Rainbow Six, on the CSGO circuit, and in the newly-franchised Call of Duty League.
The org’s CDL team kick-started their new life as Atlanta FaZe just over a week ago, edging the New York Subliners 3–1 after dismantling preseason contenders Dallas Empire 3–0 to take the top spot alongside the Chicago Huntsmen.
FaZe’s Counter-Strike is also poised to walk a new road in 2020, with the BLAST Premier Spring season opener chalked for Friday evening. The European roster, helmed by Nikola ‘Niko’ Kovač, will face Ninjas in Pyjamas first up.
It’s not been all smooth sailing, however, with two major controversies flaring up in 2019. Fortnite star Turner ‘Tfue’ Tenney’s high-profile legal battle to leave the org, and Ricky Banks’ “hotel rampage” both marred an otherwise strong year.
It doesn't hurt that they also signed superstar streamer Nick 'NICKMERCS' Kolcheff in May, a move that CEO Lee Trink called "the most important player signing in the history of esports, period."
2019 has been an unforgettable time for FaZe Clan, with countless new memories made across the world to celebrate forever... and none of it would be possible without the new faces who joined us this year.
THANK YOU, to everybody who's become a part of our family! ❤️#FaZeUp pic.twitter.com/xUIOlfmUQZ
— FaZe Clan (@FaZeClan) December 31, 2019
Despite any success and disappointment in and out of the gaming world, there can be no denying FaZe is thriving as one of the biggest esports and entertainment orgs in the world, especially considering this recent cash injection.
The clan currently boasts 4.26 million followers on Twitter—the most of any gaming team around the world—and doesn’t look like slowing down any time soon. Keep your eyes peeled for what’s next from FaZe and their new loan.