The directors of UK-based esports organisation Guild Esports have signed a letter of intent to be acquired by US-based sport investment firm DCB Sports LLC.
Guild published an update to shareholders this morning stating that the company has signed a letter of intent for DCB will acquire 100% of the assets of Guild Esports, as well as assuming all liabilities of the company.
However, Guild said ‘there is no guarantee that the transaction will complete, and Guild remains in discussions with other parties’.
Should the deal go through, DCB Sports ‘will assume and run the Guild brand, backstop future working capital requirements for the private business, provide ongoing capital 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 news comes a few days after Guild Esports said they were ‘reviewing the strategic direction of the company’ and considering selling assets or being acquired.
The acquisition by DCB Sports remains subject to entering into a definitive legal agreement and various checks.
“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.”
Jasmine Skee, Guild Esports
DCB Sports is a California-based investment management company specialising in emerging sports teams and novel leagues led by Managing Partner Gary LaDrido. The proposed purchase of Guilds’ 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 3v3 basketball league founded by hip-hop artist Ice Cube. DCB Sports also invested in The Bay Golf Club, the San Francisco based Team of the TGL, an upcoming indoor golf league, alongside four-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, added: “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.”
Dom is an award-winning writer and finalist of the Esports Journalist of the Year 2023 award. He graduated from Bournemouth University with a 2:1 degree in Multi-Media Journalism in 2007.
As a long-time gamer having first picked up the NES controller in the late ’80s, he has written for a range of publications including GamesTM, Nintendo Official Magazine, industry publication MCV and others. He worked as head of content for the British Esports Federation up until February 2021, when he stepped back to work full-time on Esports News UK and offer esports consultancy and freelance services. Note: Dom still produces the British Esports newsletter on a freelance basis, so our coverage of British Esports is always kept simple – usually just covering the occasional press release – because of this conflict of interest.
