Proposed asset acquisition by DCB Sports
05/08/2024 07:00
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RNS Number : 0766Z Guild Esports PLC 05 August 2024
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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 via Tancredi +44 207 887 7633
Chief Executive
Tennyson Securities
Corporate Broker +44 207 186 9030
Peter Krens
Tancredi Intelligent Communication
Media Relations
Helen Humphrey +44 7449 226 720
Charlie Hobbs +44 7897 557 112
guild@tancredigroup.com
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 (http://www.dcbsportsllc.com) for more information.
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