Written by Dante Uzel on 05 August 2024 14:58
Guild Esports, the gaming company backed by high-profile investor David Beckham, has received a takeover bid from the investment firm DCB Sports. This bid comes in the wake of Guild's recent revelation of a severe financial shortfall.
Guild Esports, a publicly traded company in London, reported last week that it had only £25k remaining in its accounts. This news led to a dramatic drop in its share price to just 0.012p, reducing its market capitalization to approximately £1.3 million.
DCB Sports, which focuses on the sports and entertainment sectors, intends to acquire all of Guild's assets if the deal goes through. However, the potential acquisition cost was not disclosed in the announcement.
DCB Sports is not a newcomer to the sports industry; it recently led a consortium to purchase a Los Angeles team in Ice Cube's Big3 basketball league. Jasmine Skee, CEO of Guild Esports, stated “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.”
Tags: Guild Esports
Related news
