Guild Esports PLC shares surged on Monday after it named Sky Glass as its official television partner, effective immediately.

The stock was up 13% at 0.76 pence in London on Monday afternoon.

The London-based esports business said the deal expands on its existing three-year sponsorship deal with Sky, which appointed the UK media and telecommunications conglomerate as its official premier, HQ, wi-fi & broadband partner, and its official network provider.

Guild said the new deal grants it an increased sponsorship fee for the existing one’s second and third years, and that Sky Glass will receive ‘prominent exposure’ through use of its devices across the Sky Guild Gaming Centre, Guild Esports’ headquarters.

‘Since first partnering with Sky in September 2022, our relationship has flourished, and we have collaborated on successful campaigns, events and tournaments that have grown both the Guild and Sky brands,’ said Chief Executive Officer Jasmine Skee. ‘With our shared vision and commitment to esports excellence, we are setting the gold standard for partnerships in the esports realm.’

Guild also said Sky has invested an unspecified ‘six-figure sum’ to fund the refurbishment of the Sky Guild Gaming Centre, which Guild expects to be completed in its fourth quarter. It said the renovations, which include upgrades to three team training rooms and to all content creation and coaching facilities, will leave it better positioned to host e-sports tournaments and large-scale events.

Skee said the investment ‘is creating a nexus in London for gaming and esports,’ and that ‘As we move forward into the next phase of our partnership with Sky, visitors to the Sky Guild Gaming Centre can expect to see thrilling tournaments and unforgettable gaming nights.’

Copyright 2023 Alliance News Ltd. All Rights Reserved.