The information contained within this
announcement is deemed by the Company to constitute inside
information stipulated under the Market Abuse Regulation (EU) No.
596/2014, as retained as part of the law of England and Wales. Upon
the publication of this announcement via the Regulatory Information
Service, this inside information is now considered to be in the
public domain.
Press
release
5 August 2024
Guild Esports PLC
("Guild Esports",
"Guild" or "the Company")
Proposed asset acquisition by DCB
Sports
The Directors of Guild Esports, (LSE: GILD), a
global gaming-focused media business, inform shareholders that the
Company has signed a letter of intent ("LOI") with DCB Sports LLC
("DCB Sports"), pursuant to which DCB Sports will acquire 100% of
the assets of Guild Esports as well as assuming all disclosed
liabilities of the Company (the "Transaction"). There is no
guarantee that the Transaction will complete, and Guild remains in
discussions with other parties.
Should the Transaction complete, DCB Sports
will assume and run the Guild brand, backstop future working
capital requirements for the private business, provide ongoing
capital sufficient to allow it to operate on a stable financial
platform and further develop its existing partnerships with studios
and creatives both domestically and abroad.
The Transaction remains subject to, amongst
other things, entering into a definitive legal agreement and the
completion of a comprehensive due diligence.
DCB Sports is a California-based investment
management company specialising in emerging sports teams and novel
leagues led by Managing Partner Gary LaDrido. The purchase of the
Guilds's assets represents DCB Sports' first investment in
esports.
Previously, DCB Sports led a consortium of
investors in the purchase of a Los Angeles-based team in Big3, a
3-vs-3 basketball league founded by hip-hop artist 'Ice Cube'. DCB
Sports is also invested in The Bay Golf Club, the San Francisco
based Team of the TGL, an upcoming indoor golf league, alongside
4-time NBA Champions and NBA legends Steph Curry and Klay Thompson;
Venezia FC, an association football team in Serie A; the National
Thoroughbred League, a horse racing league; and most recently
participated in the Series A of TMRW Sports, a new tech-focused
venture bringing innovation to sports, media and entertainment,
co-founded by Tiger Woods and Rory McIlroy.
Jasmine Skee,
CEO of Guild Esports, commented: "The Board is
looking to secure the long-term future of Guild Esports, both the
PLC and the iconic Guild brand. Our deal with DCB Sports is an
important step in that direction, as DCB Sports will allow Guild's
management to deliver on its strategic aims of building a
world-class gaming-led media brand. Further announcements will be
made in due course."
Gary LaDrido,
Managing Partner of DCB Sports, commented:
"Esports is the perfect combination of sports, gaming and
entertainment. We've long followed esports and with Guild we have
found the perfect opportunity for us to enter the sector for the
first time. We look forward to working with Guild's impressive list
of clients as well as building new relationships around the world.
We are excited about partnering with Jasmine and management to
deliver on its strategy of growing Guild into a leading
international media brand."
For further information, please
contact:
Guild
Esports
|
|
Jasmine
Skee
Chief Executive
|
via Tancredi
+44 207 887 7633
|
Tennyson
Securities
|
|
Corporate Broker
Peter
Krens
|
+44 207 186
9030
|
Tancredi
Intelligent Communication
Media Relations
|
|
Helen
Humphrey
Charlie
Hobbs
guild@tancredigroup.com
|
+44 7449 226
720
+44 7897 557
112
|
About Guild
Esports:
Guild Esports PLC is a global gaming-focused
media business that fields professional players in gaming
competitions under the Guild banner. Our in-house training academy
aims to attract and nurture the best esports talent, and our goal
is to provide the ultimate entertainment experience alongside a
distinctive lifestyle brand authentic to the esports community
worldwide. Guild is led by an experienced management team of
entertainment sector and esports veterans and co-owned by David
Beckham. The Company is headquartered in the UK and its shares are
listed on the Main Market of the London Stock Exchange (ticker:
GILD). Please visit www.guildesports.com for more
information.
DCB
Sports:
DCB Sports, LLC is a global holding company
dedicated to sports ownership. We invest in early and growth stage
sport teams, leagues and sports-adjacent companies with strong
leadership, clear vision, game changing product differentiation and
identifiable competitive advantage. We believe sports, media,
entertainment, music, film and fashion are all converging, creating
new opportunities for collaboration and experiential innovation for
the consumer. The Company is headquartered in La Jolla, California
in the USA. Please visit www.dcbsportsllc.com for more
information.