UK esports organisation Guild Esports has been officially acquired by US sports investment company DCB Sports LLC.
Image Credit: Guild Esports
DCB acquires 100% of Guild Esports Assets
The announcement was made through a press release on the London Stock Exchange, stating that sports investment company DCB Sports has fully acquired all of Guild’s assets for £100,000 (~$130,181.50) in cash. The new legal entity, Guild Esports and Gaming Ltd, will take on more than £2m (~$2,603,630) in liabilities. To avoid confusion, the previous entity will have its name changed to Cassel Capital PLC.
The acquisition was completed nearly two months after the company publicly stated it was exploring several solutions to deal with its financial struggles. Alongside the transaction, Jasmine Skee, CEO of Guild Esports, decided to resign from her position. Derek Lew and Brian Stockridge will stay as the company’s non-executive directors.
After trying to reduce costs, as well as explore ways to secure loans and additional equity fundraising, the company made the decision to go with the acquisition, with directors reviewing and considering the future of the company.
Founded in 2020, Guild Esports has been one of the most prominent UK-based esports organizations, having included football legend David Beckham as co-owner. Throughout the years, Guild Esports has competed across several game titles, including Tekken, Apex Legends, and Counter-Strike. Among its portfolio of partners, Guild collaborated with Sky, and Subway, among others.
Based in California, United States, DCB Sports is an investment management company that is largely involved in the sports sector. The company has invested in Italian football club Venezia FC and The Bay Golf Club, a team set to compete in a new indoor golf league called TGL. Moreover, DCB Sports led a consortium to purchase a Los Angeles-based team in Big3, a 3v3 basketball league. This is the first investment the company makes in the esports industry.
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