Guild Esports cease operations due to financial challenges

Guild Esports announced on Thursday that they are ceasing all operations, citing financial challenges amid a difficult economic climate.

The UK-based organization entered the esports world in late 2019 with a bang, backed by soccer superstar David Beckham.

In their first year, Guild Esports wrote history by becoming the first esports outfit to be listed on the London Stock Exchange.

However, over the following years, their stock price began to drop, leading Guild to struggle financially despite raising money through funding and sponsors such as Samsung, Coca-Cola, Subway, and Bitstamp.

Despite the challenges, Guild quickly expanded their presence in the esports world, fielding teams in Counter-Strike, VALORANT, Apex Legends, PlayerUnknown’s Battlegrounds Mobile, Fortnite, EA Sports FC (FIFA), Sim Racing, Call of Duty, Rocket League, Mobile Legends, and Street Fighter V.

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In their relatively short history, Guild left a mark in a few titles, winning FIFA eChampions League 2022, RLCS Season X Spring EU Regional Event 3, and multiple Fortnite titles, including Gamers8 2022 Zero Build.

Beyond the esports world, Guild’s racing team also won the Racing Prodigy P3 Championship in March.

Despite their success, the organization struggled financially and was put up for sale last week, less than a year after the acquisition by US DCB Sports.

The news of Guild’s closure was announced on social media and follows various reports of content creators and players not receiving payments from the organization. However, due to insolvency, they are unlikely to be compensated.

Guild Esports’ news comes just under two weeks after YaLLa Compass suffered the same fate, ending their operations after amassing over US$1 million in debt.

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