FaZe Clan Announces Sponsorship Deal With DraftKings

  • FaZe Clan has reached an agreement with DraftKings on a sponsorship deal.
  • DK will become the official sports betting, online gambling, daily fantasy and free-to-play partner of FaZe Clan.
  • FaZe is in the process of going public via a SPAC merger.

LAS VEGAS - FaZe Clan, the famous esports organization, is getting involved in the gambling business. The deal will partner DraftKings with FaZe Clan in all sorts of spaces, similar to a sponsorship deal with a traditional sports team or league.

The company will be the official sports betting partner of FaZe Clan, as well as their official internet gambling partner, daily fantasy partner, and free-to-play partner.

Matt Kalish, President of DraftKings North America, issued a statement praising not only the size and scope of Faze Clan, but the overlap in terms of fan demographics between FaZe and the sports betting world.

“FaZe Clan is a juggernaut of internet engagement and culture, built from the ground up into one of the most influential esports and content organizations in the world,” Kalish said. “The strong crossover between DraftKings customers and FaZe’s tens of millions of viewers and followers made this a natural alliance, and we hope to create excitement, competition, and community around sports and video games for adult audiences everywhere we operate.”

Faze Clan CEO Lee Trink described the move as a natural one, citing the large amount of FaZe supporters who are fans of traditional sports, and the fact that both FaZe and DraftKings are online focused.

“We are committed to delivering content we know our fans are passionate about,” Trink said. “The DraftKings deal is a natural move for FaZe Clan as our members and fans are avid followers of traditional sports, and this gives us the opportunity to further propel our talent and brand into the mainstream. Both brands also share an important vision of being at the forefront of internet culture and we believe this partnership marks an important cultural crossover moment for the future of sports and entertainment.”

FaZe Planning To Go Public

FaZe clan is currently in the midst of an attempt to go public via a SPAC, and this news could boost their stock prices when that happens. Their SPAC merger will take place with B. Riley Principal 150 Merger Corp., and values FaZe at around $1 billion.

When the merger is complete, B. Riley Principal 150 Merger Corp. will be renamed FaZe Holdings Inc., and will use the stock ticker symbol FAZE.

In the merger announcement, Trink described FaZe Clan as “becoming the voice of youth culture, a brand that sits at the nexus of content, gaming, entertainment and lifestyle in the digital-native world.”

This merger with DraftKings seems to match that vision of the company.