Sporting success does not automatically mean wealth. Guild Esports is experiencing this scenario despite big wins in FIFA and Fortnite.
It was a hello-wake-up effect for esports when David Beckham was unveiled as part owner of esports organization Guild Esports two years ago. However, a first big media hype with a soccer superstar doesn’t necessarily mean that money revenues will also skyrocket.
Two years after its founding, Guild Esports has established itself on the international scene. Especially in games like FIFA 22 and the Battle Royale Fortnite, the London-based organization has put an exclamation mark. However, the current financial report shows a big loss: a minus of 6 million US dollars!
As a reason for the red figures, Guild Esports states that investments were made for professionals, infrastructure, as well as for the Academy and Content Creator team. In addition, the loss was stated before tax applications. The loss is offset by a total revenue of $1.3 million, which can be attributed to new sponsorship contracts. Above all, the contract with the bank Bitstamp provides financial relief: a three-year contract in the amount of 5.5 million US dollars was signed.
Away from the investments, the organization is nevertheless making cost savings. Because due to the “growing economic uncertainty” Guild Esports has dismissed in March a total of 15 employees. All in all, the company is building up quite a bit in London and is putting investor money into funding accordingly, which initially ends in a loss-making business.
So far this year, Guild Esports is one of the most successful organizations. In FIFA 22, an absolute top professional has been in its ranks since December 2021. Argentine Nicolas “nicolas99fc” Villalba won the eChampions League final in May, earning $75,000 in prize money. Guild Esports has also been able to cheer in Fortnite. The duo Hen/Queasy triumphed in the Grand Finals: Europe of the Fortnite Champion Series in March and bagged 300,000 US dollars.
Guild Esports is also active in titles such as Riot Games’ tactical shooter VALORANT and Rocket League. Other former professional athletes such as David Beckham have been involved in Esports for a number of years. Among them is Mesut Özil with his organization M10.
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