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Guild Esports Acquired by DCB Sports LLC Amid Financial Restructuring

Posted : 17 October 2024

UK-based esports organization Guild Esports has been acquired by the American sports investment firm DCB Sports LLC. Following the acquisition, a new legal entity, Guild Esports and Gaming Ltd, will be established, which will acquire all of Guild's assets for £100,000 in cash. This new company will also take on liabilities exceeding £2 million, indicating a significant financial restructuring for the esports organization.

 

The acquisition comes on the heels of Guild Esports' recent announcements regarding financial struggles, including efforts to reduce costs and negotiate with creditors. Just a few days before the acquisition was confirmed, Guild disclosed that it was in discussions with DCB Sports and had signed a letter of intent in August to explore the acquisition further. This swift development highlights the urgency of addressing the organization's financial challenges.

 

The £100,000 acquired through the transaction will serve as working capital for the original Guild Esports PLC, which is undergoing a re-evaluation of its future direction. To distinguish itself from the new entity, Guild Esports PLC will be rebranded as Cassel Capital PLC. This change aims to prevent any confusion between the existing and newly formed companies as they navigate the transition.

 

As a consequence of the acquisition, Guild Esports' CEO, Jasmine Skee, has chosen to resign from her role. Derek Lew and Brian Stockridge will continue as non-executive directors of the newly renamed Cassel Capital PLC. Skee, who took over as CEO in late 2022 after Kal Hourd's departure, previously served as the Chief Marketing Officer for Guild Esports. The acquisition marks DCB Sports' first foray into the esports sector, adding to its portfolio that includes investments in sports organizations like Venezia FC and The Bay Golf Club.

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