Jason Lake said Complexity decided at the end of 2025 to end operations after reviewing the business and its prospects for raising money to repay a seller-held note. In a five-minute video posted to X on Sept. 23, the organization’s founder said it chose an orderly shutdown rather than risk a disorderly collapse.
The financing dates to Complexity’s 2024 sale. GameSquare said it sold the organization and its intellectual property to Global Esports Properties, an investor group led by Lake, for US$10.36 million. The terms called for US$750,000 at closing and a three-year seller-financed note of about US$9.61 million at 3% annual interest, according to GameSquare’s transaction announcement.
Lake said GameSquare, which held the seller note, now has Complexity’s intellectual property back. He said the corporate, legal and M&A work to complete the transfer took six months. The 2024 announcement establishes the note’s existence, but does not state the terms governing an IP return. Lake said he and his core team no longer have an association with the brand or any say or ownership in it.
Lake said most former colleagues have found new positions, while Complexity’s former social media lead, Katie, is still looking. He said he took a sabbatical in 2026 and is now looking for a new project, preferably in esports, while making clear he is not retiring. He did not announce a new role or discuss GameSquare’s plans for the Complexity brand.