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Guinevere secures partnership with eSports team London Spitfire
Game Legal has advised Guinevere Capital on a strategic partnership with Cloud9’s London Spitfire Overwatch League team.
Tony Zhang
Firms: Game Legal (Guinevere Capital).
Guinevere Capital is a leading sports and eSports investment and advisory firm based in Australia, but with growing interests in the UK and European eSports market with Excel Esports.
Value: Undisclosed.
Area: Esports.
Key players: The transaction was led by principal Mat Jessep.
Deal Significance: One of the biggest esports deal for an Australian organisation to date, Guinevere's expansion is now further cemented through the strategic partnership.
Guinevere Capital will assist Cloud9 with the operations of their Overwatch League team, London Spitfire.
Cloud9 will maintain ownership of the franchise, via their fully owned subsidiary, Kings Row LLC, an entity registered in Delaware, US.
“It’s been a pleasure to assist and advise Guinevere Capital on its international expansion into the UK and Europe over the past several years,” Mr Jessep said.
“This new deal and the strategic partnership with Cloud9, one of the biggest and most professionally run [eSports] organisations in the world of competitive gaming, sets Guinevere Capital and London Spitfire up for continued success.”
The London Spitfire made history in 2018 by becoming the inaugural winners of the first Overwatch League Grand Finals, held in Brooklyn, New York’s Barclays Centre in front of a two-day attendance of 22,434 spectators.
Game publisher, Blizzard, estimated that over a million people were watching the grand finals at any time, between broadcast and streaming formats, with a total viewership of over 10.8 million.
“For Guinevere, the opportunity to work with London Spitfire will allow us to work across two major British brands, cementing ourselves within the region,” David Harris, managing director of Guinevere Capital added.
“My ambition is to help develop the UK and European [eSports] ecosystem and to help organisations such as London Spitfire and British Hurricane, two immensely talented teams, stand out from the crowd, have their voice heard [among] the community and to gain the attention of brand partners.”
The Overwatch League is an international eSports league comprising 20 city-based teams, featuring the best Overwatch players on the planet fighting for US$5 million in prizes. Players are full-time professional gamers on guaranteed player salaries. The 280-match regular season begins in February and concludes with post-season playoffs in the US fall.
