By Jay Tavares-
Online gaming company Guild Esports, which is co-owned by David Beckham, has announced plans to raise £20million by selling shares via the London Stock Exchange for the first time.
It plans to do this by listing around 40 per cent of its shares, giving it a valuation of £50 million.
The Former Manchester United and England star, who is a founding shareholder of Guild and is represented on the company’s board.
The London-based firm is set to become the first franchise of its kind on the LSE if the plan to float goes ahead this autumn.
Beckham plans to strengthen his ‘global influence and following to support the development of the company’s brand and business’, the company said.
Esports, where spectators watch players video gaming competitively, has seen its popularity surge during lockdown with Britons spending significantly more time at home than before.
Guild’s shares will initially be offered to major investors next month, but afterwards will trade freely on the LSE where anyone will be able to buy them.
Cash from Guild’s initial share placing via major investors will be used to recruit new players, invest in the Guild brand and expand the company’s activities, the company said today.
The company initially plans to set up and field dedicated teams to compete in four online games, namely Fortnite, Figures from from Newzoo, a games market insights company, show that 2019, e-sports had a total of 443 million viewers in 2020. Newzoo predicts the market will grow to 646 million viewers by 2023.
Executive chairman Carleton Curtis said: ‘The growing global popularity of esports has enabled several existing franchises to monetise their activities through sponsorship, retail, merchandising, apparel and product licensing, new media and mobile, broadcasting, and tournaments.
‘Guild will be the first esports franchise to join the London stock market, which will provide us with the cachet, credibility and capital to fulfil our ambition to become one of the world’s top 10 esports franchises within three years.’