It's been quite a while since we heard some bad news about esports clubs which were backed by celebrities. Now, the time has come. The American sports investment company DCB Sports LLC has acquired the esports organization Guild Esports, co-founded by former footballer David Beckham, as reported by Esports Insider.

100% of Guild Esports' assets were sold for £100,000 in cash. According to the agreement, this money will be used as working capital until the deal is fully finalized. Along with the assets, the new owner will also take on £2 million in liabilities from the esports club. The specifics of what this amount includes are not detailed, but it's likely that these are various debts that the club might not have been able to cover without this deal.

Guild Esports was founded in 2019 and was originally called The Lords Esports, before rebranding in 2020 after securing £5 million from investors, including David Beckham. During these four years, Guild has been making many questionable decisions, yet this outcome is not the worst possible. For example, top management of Bleed Esports simply disappeared while having a six-figure debt to players, staff and other clubs.

Main image: hitmarker.net

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