Infinite Esports & Entertainment has reportedly laid off 19 employees and its now-former president, Chris Chaney. Former SVP of global partnerships Ryan Musselman will take over the role as president of the holding company that owns, among other esports endeavors, OpTic Gaming.
Esports Observer reports that 70 employees remain with the company. Chaney will not depart entirely, but will remain involved as cofounder and owner as Musselman succeeds him as president.
"Generally speaking, we think we grew too fast," said Musselman.
Infinite Esports & Entertainment is a holding company with a number of esports-related subsidiaries, including OpTic Gaming, the Overwatch League Houston Outlaws team, and live events company NGAGE.
"I'm very confident about our model and esports in general," said COO Neil Leibman. "I will continue working closely with Ryan and the new leadership at Infinite; I am positive the recent changes are the right way to move forward for our long-term success in the esports business."