Written by Dante Uzel on 16 October 2024 23:10
Source: Guild Esports
DCB Sports has fully acquired all assets of Guild Esports for £100,000 (approximately $130,181.50) in cash. The new legal entity, named Guild Esports and Gaming Ltd, will assume over £2 million (around $2,603,630) in liabilities. To prevent confusion, the original entity will be renamed Cassel Capital PLC.
This acquisition comes nearly two months after Guild Esports publicly revealed it was exploring various options to address its financial difficulties. Following the transaction, CEO Jasmine Skee has resigned, while Derek Lew and Brian Stockridge will continue as non-executive directors.
The decision to pursue the acquisition followed efforts to cut costs and secure loans and additional equity funding, with directors assessing the company’s future. Founded in 2020, Guild Esports has established itself as a leading UK esports organization, co-owned by football legend David Beckham. The organization has competed in several titles, including Tekken, Apex Legends, and Counter-Strike, and has partnered with brands like Sky and Subway.
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Tags: Guild Esports
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