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Tuesday June 25, 2024

Snoop Dogg resigns from gaming giant FaZe Clan amid company’s stock plummet

Snoop Dogg stepped down as the board of directors at the esports organization and lifestyle brand, Faze Clan

By Web Desk
April 06, 2023
Snoop Dogg resigns from gaming giant  FaZe Clan amid company’s stock plummet
Snoop Dogg resigns from gaming giant  FaZe Clan amid company’s stock plummet

Snoop Dogg, whose real name is Calvin Broadus, Jr., had reportedly resigned from his post on the board of directors at the gaming company Faze Clan.

In a filing, the company disclosed that the musicians has stepped down from the position "effective immediately."

“Mr. Broadus’s resignation was not the result of any disagreement with the Company or any of its subsidiaries,” the statement noted. 

FaZe Clan further added, "Our relationship with Snoop remains positive as we will continue a multi-year collaboration agreement between Snoop and FaZe. The FaZe Holdings Inc. Board of Directors will continue with 9 members. Please visit our website at investors.fazeclan.com for more information."

The digital-native media, entertainment and esports giant had been on the rise throughout the past several years with co-signs from celebrity “members” including the likes of Lil Yachty, NFL player Kyler Murray, LeBron James Jr. and Offset. 

In fact, Snoop Dogg represented the firm onstage at the 2022 Super Bowl halftime show by sporting a FaZe Clan-branded gold chain during the performance. 

The singer then announced later that he had signed on as a member of its talent network and joined the board of directors.

According to a Forbes report in December 2022, the company reportedly had an agreement with Snoop Dogg to give him $1.9 million in stock and a position on the company’s board of directors, along with $248,000 worth of stock each to his son and companies controlled by his spouse and his manager. 

In addition to that it was also reported that the company’s stocks had begun to drop, falling below $1 — in January, following its transition into a publicly traded company.