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Guild Esports PLC and Bitstamp have mutually agreed to terminate their £4.5m three-year global sponsorship deal, effective from January 2024, one year earlier than originally planned. This early termination will have no impact on Guild's expected revenues for the current year ending 30th September 2023, and the company reported a net cash position of £1.28m as at 24 April 2023.
| Date | 25 Apr 2023 |
| Time | 07:00:09 |
| Category | Corporate updates |
| ID | 2989X |
Press Release
25 April 2023
Guild Esports PLC
("Guild Esports", "Guild", or "the Company")
Update on Bitstamp Sponsorship
Guild Esports PLC (LSE: GILD), a global teams organisation and lifestyle brand, last year announced a £4.5m three-year global sponsorship deal with Bitstamp, a leading cryptocurrency exchange.
By mutual agreement, the two parties have decided to terminate the contract effective from January 2024, one year earlier than the original agreement.
The early termination of the contract will have no impact on Guild's expected revenues for the current year ending 30th September 2023.
Guild has a strong pipeline of potential sponsorship deals and continues to pursue new business opportunities, some of which are at an advanced stage of negotiations. The release of inventory and other rights from the Bitstamp deal will enable the Company to pursue similar contracts with other sponsors.
Guild's net cash position amounted to £1.28m as at 24 April 2023.
For further information please contact:
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Guild Esports |
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Jasmine Skee Chief Executive Neil Thapar Investor Relations |
via Tancredi +44 207 887 7633
+44 7876 455 323 |
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Tennyson Securities |
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Corporate Broker Peter Krens |
+44 207 186 9030 |
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Tancredi Intelligent Communication Media Relations |
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Helen Humphrey Charlie Hobbs Maddy Newman guild@tancredigroup.com |
+44 7449 226 720 +44 7897 557 112 +44 7380 127 135 |
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. Our in-house 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) and on the OTCQB Venture Market in the United States (ticker: GULDF). Please visit www.guildesports.com for more information.