The Esports Advocate
Esports business news: deals, legal, and governance.
Documents
EA VP of Esports Brent Koning Exits Company
Brent Koning has departed Electronic Arts after a tenure of more than six years, during which he played a significant role in the company’s competitive gaming division.
- Brent Konig has departed Electronic Arts after more than six years of service, most recently holding the position of Vice President of Esports.
- In his final role, Konig oversaw EA’s competitive gaming portfolio, including titles such as Apex Legends and FIFA, from the company’s London offices.
- Konig was promoted to his most recent VP of Esports role in May 2022, following a year as VP of FIFA competitive gaming based in Redwood, California.
TSM Suspends $210M Naming Rights Partnership With FTX
In November 2022, the esports organization TSM announced the immediate suspension of its 10-year, $210 million naming rights partnership with the cryptocurrency exchange FTX.
- TSM has suspended its 10-year, $210 million naming rights partnership with cryptocurrency exchange FTX, effective immediately.
- The decision follows FTX’s filing for Chapter 11 bankruptcy protection in the District of Delaware in November 2022.
- TSM is removing all FTX branding from its social media profiles and player jerseys as part of the partnership suspension.
Majority of Motorsport Games Board Members Resign
In November 2022, the virtual racing game developer Motorsport Games faced a significant corporate governance crisis when a majority of its board of directors resigned.
- Motorsport Games' board of directors resigned en masse on November 9, 2022, following a dispute with majority shareholder Motorsport Network LLC regarding capital-raising proposals that would have been dilutive to the shareholder.
- The mass resignation included independent directors Peter Moore, Neil Anderson, and James Allen, leaving CEO Dmitry Kozko as the sole remaining board member alongside newly appointed independent director John Delta.
- The company fell out of compliance with NASDAQ listing rules, specifically failing to maintain a board with a majority of independent directors and an audit committee consisting of at least three independent members.
Netflix Exec Jeremi Gorman Joins GameSquare Board of Directors
GameSquare Esports has appointed Jeremi Gorman, the President of Worldwide Advertising at Netflix, to its board of directors as an independent director.
- Netflix President of Worldwide Advertising Jeremi Gorman has joined the board of directors at GameSquare Esports as an independent director.
- GameSquare aims to leverage Gorman’s extensive background in advertising and marketing to accelerate revenue growth and scale the company's position in the gaming and esports industry.
- Gorman brings significant executive experience to the board, having previously served as Chief Business Officer at Snap and Head of Global Large Customer Sales at Amazon.
Three Marketing Executives Quietly Exited FaZe Clan
Between July and October 2022, FaZe Clan experienced the quiet departure of three key marketing executives.
- Three marketing executives quietly departed FaZe Clan between July and October 2022, following the earlier resignation of Chief Strategy Officer Kai Henry and the May 2022 exit of CFO Amit Bajaj.
- Xavier Ramos, the former SVP head of marketing, left FaZe Clan in September 2022 to join Interscope Records as executive VP of pop & rock marketing.
- Bo Wolfe, who served as VP of consumer products, exited FaZe Clan in October 2022 to become a marketing coordinator at Interscope Records.
FaZe Clan Chief Strategy Officer Kai Henry Resigns
The resignation of Kai Henry as Chief Strategy Officer of FaZe Clan, effective November 8, 2022, marks a notable leadership change within the esports organization. The departure was formally disclosed through a U.S.
- Kai Henry resigned from his position as Chief Strategy Officer of FaZe Holdings Inc. (NASDAQ: FAZE) on November 8, 2022.
- The resignation was confirmed via an SEC Form 8-K filing, which stated that Henry is not entitled to any severance or additional compensation under his executive employment agreement.
- FaZe Clan CEO Lee Trink characterized the departure as a mutual and amicable decision, noting that the company intends to continue collaborating with Henry on future projects.
TSM Issues Statement on FTX
In November 2022, the esports organization TSM issued a formal statement regarding the sudden bankruptcy of its naming rights partner, the cryptocurrency exchange FTX.
- TSM is currently consulting with legal counsel to determine the status of its 10-year, $210 million naming rights deal with FTX following the crypto exchange's Chapter 11 bankruptcy filing.
- TSM stated it has no internal insight into the FTX situation beyond what has been reported publicly and is actively monitoring the matter to protect its team, staff, and fans.
- Despite the uncertainty surrounding its primary sponsor, TSM claims it remains stable and projects profitability for the current year, the following year, and beyond.
Chris ‘PapaSmithy’ Smith Joins FlyQuest
In November 2022, the North American esports organization FlyQuest announced the appointment of Chris “PapaSmithy” Smith as its new president and chief gaming officer.
- Chris 'PapaSmithy' Smith has been appointed as the president and chief gaming officer of the esports organization FlyQuest.
- Smith joins FlyQuest from 100 Thieves, where he previously served as the general manager for their League of Legends team.
- In his new role, Smith will oversee competitive play, team development, business strategy, and the identification of new fan engagement and content opportunities.
XSET Co-Founder Marco Mereu Officially Exits Company
Marco Mereu, a co-founder of the esports organization XSET, officially confirmed his departure from the company in November 2022, noting that his exit occurred in August of that year.
- XSET co-founder Marco Mereu officially confirmed his departure from the organization in November 2022, noting that he had actually left the company in August 2022.
- Internal tension between leadership was signaled in early September 2022 when CEO Greg Selkoe announced the promotion of Steve Birkhold to the COO role without mentioning Mereu by name.
- Despite his exit from the company's operations, Mereu is understood to remain a stakeholder in XSET.
Riot Games Names Sarah Schutz Head of Games Publishing
Riot Games has appointed Sarah Schutz as the new Head of Games Publishing.
- Riot Games has promoted Sarah Schutz to the position of Head of Games Publishing.
- Schutz has been with Riot Games since 2012, beginning her tenure as managing editor of online publications.
- Over her 10-year career at the company, Schutz has held multiple leadership roles, including communications manager, brand writing lead, senior brand manager, chief of staff, and senior director of product management.
Activision Touts Sell-Through Success of Call of Duty: Modern Warfare II
Activision Blizzard reported significant commercial success for the launch of Call of Duty: Modern Warfare II, which generated over $800 million in worldwide sell-through revenue within its first three days of release.
- Call of Duty: Modern Warfare II generated over $800 million in worldwide sell-through revenue within its first three days of release.
- The game achieved the biggest opening in the franchise's history, surpassing the previous five-day record of $775 million set by Modern Warfare 3 in 2011.
- Modern Warfare II set a new franchise record for the highest-grossing digital opening weekend.
Industry Veteran Donald Boyce Joins the G2 Army
G2 Esports has appointed industry veteran Donald Boyce as its new head of business development and sales.
- Donald Boyce has been appointed as the new head of business development and sales for the Berlin-based esports organization G2 Esports.
- Boyce will operate out of G2 Esports' Los Angeles office.
- Prior to this role, Boyce spent over three years at Cloud9, where he served as SVP of sales, marketing, and partnerships, as well as VP of partnerships.