Shares of online sports team organisation Guild Esports (LON: GILD) are climbing on Thursday after the company announced a two-year multi-million-pound sponsorship deal with sandwich chain Subway.
The deal covers 55 markets in the EMEA region and is the third revenue-generating sponsorship secured by Guild Esports since its flotation on the London Stock Exchange in October 2020.
Guild Esports share price is up 1.82% at 5.6p.
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The deal will see Guild receive four equal instalments in cash over 24 months, although the amounts were not disclosed. The partnership will begin on the 25th of March.
Subway will receive marketing rights and exposure across Guild’s team jersey and social and digital content featuring the company’s pro-players and content creators. Subway’s logo and brand will also be displayed at Guild’s new London headquarters, which is opening later this year.
Subway has also been appointed as an Official Academy Partner of Guild Esports.
“The deal keeps Guild Esports on track to generate significant sponsorship revenues in its first full year since the IPO,” commented Carleton Curtis, Guild’s Executive Chairman.
“As we build a young, dynamic community and fanbase that is much sought-after but hard to reach, our new business momentum continues to grow, and we look forward to announcing new sponsors in due course,” added Curtis.
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.
