For a couple of months, a full buyout of Guild Esports was being touted, with many believing it would serve as a last-ditch effort to rescue the brand that has undergone financial issues in recent years. Now, that acquisition has been completed, with US-based firm, DCB Sports LLC, securing Guild Esports in full for a one-off cash payment of just $130,000.
DCB now owns 100% of Guild’s assets – but that also includes outstanding liabilities and debts.
What does this mean for Guild Esports?
Per a report, DCB Sports will assume ownership of Guild and set up a new brand identity dubbed ‘Guild Esports and Gaming Ltd’. The $130,000 that DCB paid to secure the brand will be soaked up by the remnants of Guild Esports PLC. It was subsequently revealed that the original company will be renamed to ‘Cassel Capital PLC’ to avoid confusion post-transaction.
As news of the acquisition broke, Guild’s CEO, Jasmine Skee, announced her decision to resign from the company, vacating the position she’d held for almost two years.
In a full release published by Guild Esports PLC, it was written:
Guild’s Chief Executive, Jasmine Skee, has taken the decision to resign from the Company and step down from the Board of Directors with immediate effect to pursue new opportunities. The Board sincerely thanks Ms Skee for her significant contributions and strategic leadership of the Company under difficult conditions, and in particular, her efforts in completing the Transaction. Following Ms Skee’s resignation, the board will comprise Derek Lew and Brian Stockbridge, the Company’s non-executive directors.
To date, Guild Esports has invested time and effort into various competitive ecosystems, such as Apex Legends, FIFA, PUBG, Fortnite, VALORANT, FGC games, Rocket League, EA Sports FC, and more. Presently, the brand is preparing to host The Women’s Esports Finals, a tournament taking place to drive awareness into the low numbers of female gamers in the esports industry.
For more Insider Gaming esports, check out the news that Sentinels has an uncertain future in Halo
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