Guild Esports Sold to US-based investment Firm DCB Sports in a cut price £100,000 move.
Launched in 2019 with David Beckham as a big name investor in the project, Guild Esports went on to feature in several major esports titles. Now, DCB Sports has acquired 100% of Guild Esports PLC’s assets. The old PLC will now be renamed to Cassel Capital PLC and remain on the London Stock Exchange.
However, Guild Esports isn’t going away, with DCB Sports running it through a new Guilds Esports and Gaming LTD. In a release, the company stated that:
“and it will be responsible for providing the necessary future working capital to allow the business to operate from a stable financial platform, and further develop its existing partnerships with studios and creatives domestically and abroad”
A new Start
Guild’s current CEO Jasmine Skee has also stepped down from the role in the wake of the news. Derek Lew and Brian Stockbridge will now become non-executive directors of Cassel Capital PLC. The company left over from what Guild Esports.
“Despite continued efforts, Guild has exhausted all alternative fundraising and financing opportunities which would allow the company’s continued operation in its current form. The board of directors believe [the acquisition] is the best course of action available for the company given its current financial position and the anticipated future capital needs of the business. The board sincerely thanks Ms Skee for her significant contributions and strategic leadership of the company under difficult conditions, and in particular, her efforts in completing the transaction”
Crucially for staff at Guild Esports, “The transaction also provides certainty to the company’s staff, customers, and suppliers which have been integral to the development of the Guild brand and business.” stated the company’s new owners.
Guild Esports was also on the London Stock Exchange and it’s fair to say the trajectory of that was a telling sign. Starting at a respectable £0.08 a share, the stock mostly fell away, bar a slight recovery early in 2021 to its original share price. However, since then it’s been downhill, with a huge snowball starting in September 2021 when the price was £0.06, resulting in it falling to below £0.01 by May 2022.
Update: The stock price started the day at £0.060 before dropping to £0.050 by the end of the day.
David has written for games media outlets for the last ten years. With his first major esports role being with Esports News UK covering mostly UK League of Legends. David is also a member of the British Esports Association and is an advisor to them on World of Warcraft Esports. More recently David has worked for Esports Insider and Red Bull as an esports journalist.
David later became Editor at ESTNN and now leads the current team.
Source : Estnn