Former English soccer star (or properly known as football) David Beckham’s previous Esports team is now up for sale. The team, Guild Esports, was founded in 2018 and is based in East London. The team competed in variousPCgames, includingFortnite,FC 25,Sim Racing, andPUBG Mobile. Despite early success, ongoing financial issues have contributed to the decision to sell the company.
In a post by365247 Media, it has been reported thatGuild Esports has been put up for sale through an insolvency marketplace. The sale is being facilitated by investment fund DCB Sports, which acquired all the team’s properties and liabilities last August, following clear signs of financial difficulty, according to the report. That was also when Beckham ceased to be an owner.
Guild Esports Is Being Sold
End Of An Era
Esports has become a cultural phenomenon, with some reports indicating that Esports tournaments offerbigger payouts than professional sports, like soccer and basketball. That return on investment, though, is often risky, with some teams gradually declining in performance and victories. The latest public trading update for the company’s stock revealed a40 percent decline in revenueas of March 2024.
Guild Esports CEO Jasmine Skee noted during the acquisition by DCB Sports that the previous deal was made to ensure the company’s future success. Guild Esports hasnot yet made an official statementon the sale.
Financial Struggles Continue In The Video Game Industry
It’s Not Just Esports Being Affected
Despite Esports events sometimes bringing in millions of dollars, like the recentLeague of LegendsWorld Cup, theindustry at large is seeing financial issues. Recently,Microsoft laid off over 9000 employees, canceled numerous projects, and has struggled to find its modern place in the industry, despite billions of dollars in profit. Esports tend to sign, let go, and re-sign professional players quite often, creating even more instability.
