Guild Esports, a UK-based eSports organisation has announced a sponsorship deal with The Coca-Cola Company which led to an over 40% rise in its share price.
The David Beckham-backed eSports organisation and lifestyle brand announced that they’re the first eSports team in Europe to sign a global sponsorship deal with the multinational soft drinks brand.
Chief executive of Guild Esports, Kal Hourd said, “Guild is signing up some of the world’s most respected brands and we are very proud to welcome Coca-Cola as a sponsor and partner. They want to collaborate with Guild because we deliver great entertainment and memorable experiences for a millennial, hard-to-reach audience in one of the fastest growing segments of the sports entertainment industry.”
The sponsorship deal will see Coca-Cola become Guild’s official hydration and soft drinks partner as well as the sixth sponsor that Guild has signed with so far.
Yahoo’s Guild Esports share price page shows that Guild’s share price climbed 43.21% to 2.36p moments after the sponsorship news was announced. The sponsorship fee was paid in cash but an amount was not disclosed.
The Coca-Cola Company’s package is based around ‘unique experiences and providing opportunities for gamers across the globe. As part of the partnership, Coca-Cola will also display a range of drinks at Guild’s HQ in Shoreditch, London.
This isn’t the first time that the popular soft drinks company has dipped its toes into eSports. It has previously worked with Riot Games for the League of Legends World Championships and earlier this year it signed to be a worldwide funding partner of Wild Rift in a multi-year agreement.
The Coca-Cola Company has also partnered with The Charlotte Phoenix, a North Carolina-based sports organisation that competes in Rocket League, Apex Legends and the eNascar Coca-Cola iRacing Series.