Last checked at 22 Oct 2021 07:00
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014, as retained as part of the law of England and Wales. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Press release
22 October 2021
Guild Esports PLC
("Guild Esports", "Guild" or "the Company")
Update on sponsorship deal
Guild Esports (LSE: GILD), a global teams organisation and lifestyle brand, announces that it has terminated the three-year sponsorship deal with a European fintech company, announced on 19 October 2020, following delays in the sponsor's launch and the payment of sums due under the contract.
Under the terms of the agreement, the sponsor was due to commence payments from the date of their global brand launch and unveiling. To date, Guild has not been given any clear timeline for their launch and none of the amounts scheduled under the contract have been paid.
Given the uncertainty about the contract and the strong appetite from other brands to partner with Guild, the Company has elected to terminate the contract with immediate effect to focus on new sponsorship deals that are at an advanced stage of negotiations.
The Company's new business pipeline remains robust, and it continues to generate strong and active interest from consumer brands in a wide range of sectors. In addition, the Company is working closely with its existing global sponsorship partners with whom relations are excellent and in line with expectations.
Kal Hourd, chief executive of Guild Esports, said: "We have been very accommodating and patient about this contract but have decided to terminate it due to increasing uncertainty over their launch plans. We are in active negotiations for new sponsorship deals and look forward to announcing these soon."
For further information please contact:
Guild Esports | |
Kal Hourd Chief Executive Neil Thapar Investor Relations | via Tancredi +44 207 887 7633
+44 7876 455 323 |
Tennyson Securities | |
Corporate Broker Peter Krens | +44 207 186 9030 |
Zeus Capital | |
Corporate Broker Benjamin Robertson | +44 203 829 5000 |
Tancredi Intelligent Communication Media Relations | |
Salamander Davoudi Emma Valgimigli Helen Humphrey guild@tancredigroup.com | +44 7957 549 906 +44 7727 180 873 +44 7449 226 720 |
About Guild Esports:
Guild Esports PLC is a global fan-focused team organisation and lifestyle brand that fields professional players in gaming competitions under the Guild banner. Guild's training academy aims to attract and nurture the best esports talent, and our goal is to provide the ultimate entertainment experience alongside a distinctive lifestyle brand authentic to the esports community worldwide. Guild is led by an experienced management team of esports veterans and co-owned by David Beckham. The Company is headquartered in the UK and its shares are listed on the main market of the London Stock Exchange (ticker: GILD). Please visit www.guildesports.com