Guild Esports, a UK-based esports organization, has announced that its directors have signed a letter of intent with an undisclosed US investment company for a potential acquisition. If the deal goes through, the company will acquire 100% of Guild Esports’ assets and assume all of the company’s liabilities. However, the transaction is not guaranteed to be finalized as Guild Esports remains in discussions with other interested parties.
The potential acquisition follows Guild Esports’ recent announcement that it was seeking financial solutions due to liabilities amounting to £1.36m and accounts receivable totaling £1.52m as of September 2024. 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 the investment company is an important step in that direction, as it will allow Guild’s management to deliver on its strategic aims of building a world-class gaming-led media brand.”
If the acquisition is completed, the investment company will manage the Guild brand, providing capital to stabilize Guild’s financial platform and developing its existing partnerships.
Potential acquisition for Guild Esports
A representative from the investment company expressed enthusiasm about the potential acquisition, saying, “Esports is the perfect combination of sports, gaming and entertainment. With Guild, we have found the perfect opportunity for us to enter the sector for the first time.”
The transaction is still subject to the completion of a definitive legal agreement and a due diligence process.
Further announcements will be made in due course as the situation develops. In other industry news, ESL FACEIT Group has secured a Counter Strike-focused deal with Logitech, while Senior Director Morten Holst has left ESL FACEIT Group to join the Esports World Cup Foundation. ESI Lisbon 2024, a significant industry event for esports, video games, and the creator economy, is set to take place in September.
Additionally, Mount Kenya University has launched an esports training facility at its main campus in collaboration with the Esports Kenya Federation.
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