Guild Esports In Advanced Negotiations With Potential New Sponsors

Guild Esports has terminated the three-year sponsorship deal it had with an unnamed European fintech company after delays in the sponsor’s launch and the payment of sums due under the contract. However, the company says it is already in advanced negotiations with other potential sponsors.

“We have been very accommodating and patient about this contract but have decided to terminate it due to increasing uncertainty over their launch plans,” said Kal Hourd, Chief Executive at Guild Esports. “We are in active negotiations for new sponsorship deals and look forward to announcing these soon.”

Under the terms of the previous agreement, the sponsor was due to commence payments from the date of their global brand launch and unveiling, but Guild said it has not been given any clear timeline for their launch and none of the amounts scheduled under the contract have been paid.

Guild Esports said given the uncertainty about the contract and what it said was a strong appetite for partnerships from other brands, it decided to terminate the other offer with immediate effect. It added its new business pipeline remains robust, it continues to generate strong and active interest from consumer brands in a wide range of sectors and has excellent relationships with its other existing global sponsorship partners.

(All information was provided by Proactive)

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