David Beckham launches £50 million eSports float on the London stock market

A new esports franchise backed by ex-England footballer David Beckham today revealed plans to join the London stock market.

Guild Esports wants proceeds from the flotation to help it recruit new professional players as it looks to become one of the world's top ten esports franchises.

Beckham, who is already co-owner of MLS team Inter Miami CF, has a significant minority stake as one of the company's original founding shareholders.

The company, which is reportedly aiming for a valuation of £50 million, is looking to capitalise on a boom in the esports sector after lockdowns helped to attract new gamers and audiences grew due to traditional sporting fixtures being cancelled. The global market is projected to grow to 646 million viewers by 2023, from 443 million last year.

London-based Guild plans to establish its own esports teams to compete in major esports tournaments, with player training and scouting infrastructure similar to the talent academies set up by Premier League football teams.