LONDON: DCB Sports LLC has signed a letter of intent pursuant to which DCB Sports will acquire 100% of the assets of Guild Esports (LSE:GILD) as well as assuming all disclosed liabilities of the Company

There is no guarantee that the Transaction will complete, and Guild remains in discussions with other parties.

DCB Sports will assume and run the Guild brand, backstop future working capital requirements for the private business, provide ongoing capital sufficient to allow it to operate on a stable financial platform and further develop its existing partnerships with studios and creatives both domestically and abroad.

DCB Sports is a California-based investment management company specialising in emerging sports teams and novel leagues led by Managing Partner Gary LaDrido. The purchase of the Guilds’s assets represents DCB Sports’ first investment in esports.

Previously, DCB Sports led a consortium of investors in the purchase of a Los Angeles-based team in Big3, a 3-vs-3 basketball league founded by hip-hop artist ‘Ice Cube’. DCB Sports is also invested in The Bay Golf Club, the San Francisco based Team of the TGL, an upcoming indoor golf league, alongside 4-time NBA Champions and NBA legends Steph Curry and Klay Thompson; Venezia FC, an association football team in Serie A; the National Thoroughbred League, a horse racing league; and most recently participated in the Series A of TMRW Sports, a new tech-focused venture bringing innovation to sports, media and entertainment, co-founded by Tiger Woods and Rory McIlroy.

Jasmine Skee, CEO of Guild Esports, commented: “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’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.”
The Directors of Guild Esports, (LSE: GILD),

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.”