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Guild eSports renegotiates £15m greedy David Beckham deal to pave way for rescue placing

By Tom Winnifrith | Tuesday 27 September 2022

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

The David Beckham deal with Guild eSports (GILD) always stank to high heaven as I pointed out at the time of the IPO while the deadwood press sucked the cock of the Beckham PR machine. On its IPO it raised £18 million but agreed that – irrespective of what sales it achieved – it would hand £15 million of that to Mr David Beckham in return for his work as a brand ambassador. Today, less than two years after that IPO at 5p, the deal has had to be scrapped in order to persuade investors to back a bailout fundraise to stave off bankruptcy.

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