David Beckham is taking his esports business public in London IPO
London (CNN Business)A business co-founded by David Beckham plans to become the first esports franchise to list on the London Stock Exchange, benefiting from the growing appeal of online video gaming.
Guild Esports, a UK-based owner and designer of esports teams, confirmed prepare for a preliminary public offering in a declaration Wednesday. The company stated it wants to construct a global sports franchise designed on the English Premier League, NBA and NFL. It will float 40% of its shares next month and wishes to raise ₤ 20 million ($25.9 million) to recruit brand-new gamers and purchase the business.Electronic sports includes several professional gamers competing in video games that can be seen at physical venues or through digital channels. A stock market listing will offer Guild Esports “with the caché, reliability and capital” to meet its ambition to turn into one of the world’s top 10 esports franchises within 3 years, executive chairman Carleton Curtis said in the statement. Beckham, a previous Manchester United and England footballer, will utilize his worldwide influence and following to support the Guild Esports brand, the company added. Beckham is also co-owner of Inter Miami CF, a Big league Soccer group in the United States. The popularity of esports has surged recently, reaching a worldwide audience of almost 500 million and incomes of almost $1 billion in 2019, according to gaming analytics business Newzoo. Some esports events, such as the 2017 League of Legends champion, brought in more audiences than tournaments such as Wimbledon, the US Open and the Trip de France.Read More”The growing international popularity of esports has made it possible for several existing franchises to monetize their activities through sponsorship, retail, retailing … broadcasting and tournaments,” added Curtis. Guild Esports intends to do the very same, taking advantage of a fan base that has just increased throughout the pandemic, as individuals discovered new types of at home entertainment throughout lockdowns and routine sports competitions were either put on hold or held behind closed doors. The business plans to recruit as much as 20 esports players by the end of next year, modeling gamer training and scouting on the talent academies originated by Premier League football groups. It at first plans to field teams to contend in Fortnite, Counter-Strike: Global Offensive, Rocket League and FIFA.