David Beckham's esports org wants to raise £20m on London stock market - Dexerto
Esports

David Beckham’s esports org wants to raise £20m on London stock market

Published: 9/Sep/2020 14:10 Updated: 9/Sep/2020 18:20

by Jacob Hale

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David Beckham’s esports company, Guild Esports, plans to raise $20m to reach a valuation of $50m just three months after launching.

Guild Esports was first incorporated in September 2019, but officially launched in June 2020, now housing players in both FIFA 20 and Rocket League.

Now, the team plans to go even further and build on the success they’ve already achieved by becoming the first esports org to float on the London Stock Exchange.

David Beckham Inter Miami hoodie
Instagram: davidbeckham
Beckham’s esports adventure is kicking off not long after his brand-new MLS team, Inter Miami, got going too.

As reported by The Guardian , Guild Esports wants to raise £20m on the stock market, with the aim of bringing the company’s overall valuation to £50m.

The organization has several plans for the money raised by floating on the LSE. Proceeds from the share placing will be used to recruit new players, invest in the Guild brand and expand the company’s activities.

On top of FIFA and Rocket League, Guild reportedly also plan on fielding teams in Fortnite and Counter-Strike: Global Offensive, which would truly start pitting Beckham’s teams against the biggest endemic teams in the industry.

Guild will be the first esports franchise to join the London stock market,” said Guild’s executive chairman Carleton Curtis. “It will provide us with the cache, credibility and capital to fulfil our ambition to become one of the world’s top 10 esports franchises within three years.”

This doesn’t appear to be Guild’s only planned stream of income, though. Curtis continued: “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 Esports, which already raised £5m of private funding ahead of its launch, plans to build a “player training and scouting infrastructure modelled on the talent academies pioneered by Premier League football.”

Raising £20m would significantly help Guild on their way to achieving their target of becoming a significant player in the esports space within the next three years — though only time will tell.

Business

Team Singularity slam DashThreads and terminate partnership

Published: 23/Oct/2020 12:10 Updated: 23/Oct/2020 12:16

by Adam Fitch

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Team Singularity have prematurely ended their partnership with merchandise supplier DashThreads due to “unprofessionalism.”

The Danish organization posted an announcement to explain why they were “officially parting ways” with the apparel company.

The org alleges that they were not able to produce marketing material over the past four months because products had not been delivered by DashThreads, subsequently they were not able to “execute on marketing plans.”

They stated that this wasn’t a decision made in the spur of the moment, it comes after months of trying to rectify the problems and get things on track. However, the “unprofessionalism shown by DashThreads and its CEO and owner Devin Fry” was too much to handle going forward.

Team Singularity Insight
Team Singularity
Team Singularity recently sold their player Insight to Toronto Ultra.

Team Singularity are allegedly missing more than 300 units of clothing, that they had already paid for, which were supposed to go to their players, influencers, content creators, management, and fans.

The org stated that their legal team will be taking action against DashThreads as the partnership was “one-sided” and there are further instances of mistreatment that they won’t be making public knowledge.

“I’m very sad that my worst fears prior to entering this partnership earlier this year came true and I take full responsibility for a deal that should never been made in the first place,” said Singularity CEO Atle Stehouwer. “I will not beat myself up about giving people and startups a second chance, I am just sad that DashThreads and Devin Fry decided not to rise above previous accusations and prove that it was a legit startup. Actions speak louder than words.”

DashThreads predominantly work with amateur and semi-pro esports teams and describe themselves as a “premium esports and street apparel company.”

Dexerto has contacted DashThreads for comment on Team Singularity’s statement.