Recently, we reported about the issues that Guild Esports is facing, with financial turmoil running rampant through the London-based organisation that’s backed by David Beckham. It was highlighted that with cash reserves dwindling, the organisation had just £25,000 on hand, and the stock value of the company was plummeting.
Now, in a report shared by Reuters, it has been confirmed that Guild Esports is ‘planning to agree’ to a takeover bid from DCB Sports, a Californian investment firm.
To Stay Afloat
It was highlighted in the report published by Reuters that Guild Esports’ stock value has crashed by around 99% since the all-time high was reached in 2020. In a recent all-time low, the share price of Guild Esports touched around $0.08.
In a statement, Guild’s representatives said:
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.
It’ll be a complete buyout, with DCB Sports assuming control of everything – and that means the full suite of successes and failures currently sitting under the Guild banner.
Guild has experimented with several esports games in the past, ranging from top-tier titles like VALORANT and Counter-Strike to more emerging markets like simracing. Currently, the organisation fields teams in the likes of Fortnite, EA Sports FC, Street Fighter, and Apex Legends.
For more Insider Gaming Esports, check out the news that XDefiant’s esports scene is starting to grow
