26th Sep 2022 12:32
(Alliance News) - Guild Esports PLC on Monday announced that it has signed a three-year global sponsorship agreement with Sky UK Ltd.
The deal is Guild's largest to date and is payable exclusively in cash via instalments over the contracted period. It is the eighth revenue-generating sponsorship signed since its initial public offering. Guild is a London-based esports company.
Shares in Guild were trading 38% higher at 2.70 pence in London on Monday afternoon.
The deal is Sky's first with an esports organisation and will become effective on Monday. Guild said the deal is thought to be "one of the largest ever esports sponsorships signed in Europe", but no financial details were provided.
As part of the partnerships Sky gains naming rights to Guild's head office in London. Sky's branding will "appear prominently" on Guild's team jersey and will be displayed across both the interior and exterior of the headquarters, which will be renamed the Sky Guild Gaming Centre.
Sky and Guild will work together on "shared brand values" and effect positive change in line with their share commitments. These include providing greater opportunities for women in esports and delivering "exclusive esports competition" to Sky.
Chief Executive of Guild Esports Kal Hourd said: "We are incredibly proud to welcome Sky, a media, entertainment and connectivity powerhouse, to the esports sector. We believe this partnership will drive Guild to the highest levels of performance in top-flight esports across the four games where we field our pro-players, as well as to become a global leader in coaching and performance."
Blue Star Capital PLC, an esports and technology investment company with a stake in Guild, noted the announcement. The company was "delighted to learn of the high-quality partnership with Sky and its significant impact on, and endorsement of, Guild".
Shares in Blue Star Capital were trading 0.1% lower at 0.15p each.
By Chris Dorrell; [email protected]
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