Guild Esports, the company co-founded by professional football player David Beckham, is set to list its shares on the London Stock Exchange. When it launches its initial public offering (IPO), the UK-based international e-sport team management firm will become the first e-sports franchise on the London bourse.

On Wednesday, the company confirmed its plan to launch an IPO. Guild Esports stated that its intention will be to model the firm on other international sports associations such as the NBA, NFL and English Premier League.

The company plans to offer around 40 percent of its total shares during its IPO, which it revealed could be launched as early as next month. Guild Esports is aiming to raise as much as $25.9 million from the IPO.

Guild Esports plans to use the proceeds of the share sale to fund the acquisition of new players and to invest more in its business operations. Through the share sale, the company hopes to achieve its goal of becoming one of the world's top 10 e-sports franchises within the next three years.

According to the company, Beckham will be fully hands-on to support the continued growth of Guild Esports. The former Manchester United and England football player is planning to use his following and influence to market the company's brand.

In recent years, e-sport has become a relatively lucrative business. It has attracted millions of fans worldwide who are willing to pay to watch professional players and teams play against each other in various video games inside physical venues or through online streaming. Various leagues have generated hundreds of millions of dollars in revenues by holding massive global competitions.

According to video game analytics firm Newzoo, global esports events had attracted more than 500 million viewers worldwide in 2019. It added that the events had managed to generate revenues of close to $1 billion last year. Competitions such as the immensely popular League of Legends championships had even managed to outpace the viewership of traditional sports such as the US Open, Tour de France, and Wimbledon.

Guild Esports is planning to capitalize on the growing popularity of these types of events, which had managed to grow exponentially during the pandemic. With most traditional sports events canceled or suspended, e-sports had become a popular form of entertainment for those who were stuck at home during the lockdowns.