The David Beckham-backed gaming company Guild Esports has received a takeover offer from the investment group DCB Sports after it warned last week it was facing a financial crisis.
The London-listed esports business said the investment firm, which specialises in the sports and entertainment space, would acquire 100 per cent of its assets if the purchase was successful.
However, no purchase price was mentioned in the release.
Last week, Guild Esports revealed it only had £25,000 left in its accounts, which sent the company’s share price plummeting to a record low of 0.012p. Guild’s market value also plunged to just £1.3m.
DCB Sports recently spearheaded a consortium of investors to acquire a Los Angeles-based team in Big3, the 3-on-3 basketball league founded by hip-hop icon Ice Cube.
In addition, the company has acquired stakes in Venezia FC, a Serie A football club, and the National Thoroughbred League, a premier horse racing league.
It also recently participated in the Series A funding round for TMRW Sports, a tech-driven venture co-founded by golf legends Tiger Woods and Rory McIlroy.
Jasmine Skee, CEO of Guild Esports, said: “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 Esport’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.”