David Beckham’s esports team is planning an initial public offering on the London Stock Exchange which it hopes will raise £20m.
The former Manchester United star owns a significant minority stake in Guild Esports through DB Ventures, his personal investment vehicle.
The London-based franchise, which was set up only a year ago, plans to raise £20m to pay for the recruitment of up to 20 professional gamers by the end of next year and to fund further investment.
It is aiming for a valuation of £50m, according to sources, which is a sharp drop on a previous target of £100m. Guild Esports raised £5m in a previous private funding round over the summer.
Roughly 40% of the company’s shares will be available through the listing. Guild plans to invest in a scouting network and training academy for gamers and existing shareholders, including Beckham, will retain their shares.