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Gfinity PLC - Gfinity and ADMM launch V10 R-League

RNS Number : 1900V
Gfinity PLC
05 August 2020
 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

05 August 2020

Gfinity plc

("Gfinity" or the "Company")

 

ADMM and Gfinity announce launch of new digital motorsport competition V10 R-League, as part of Global Racing Series

 

 

Gfinity (AIM: GFIN), a world-leading esports and gaming solutions provider, and Abu Dhabi Motorsport Management (ADMM) have today launched a new digital motorsport competition, the V10 R-League.  The V10 R-League is launched as part of the Global Racing Series, the first stage of the activation of the 5-year agreement between ADMM and Gfinity announced on 4 June 2020.  The Global Racing Series will feature a range of internationally focused virtual motorsport leagues and competitions, designed to provide commercial opportunities with brands, broadcasters and teams. 

 

The V10 R-League, the first league under the Global Racing Series, will involve eight teams competing against each other in a round robin-head-to-head format.  Two seasons will run per year and the teams are competing for a prize pot of £100,000 per season.  The first of the eight teams to be announced are Ford (Fordzilla), JAESA Team Suzuki, Williams Esports and BWT Racing Points Esports Team.

 

Season 1 will consist of seven rounds of matches. Each match will include a one on one race, a relay race and a first past the post format. Races will take place across seven iconic tracks and the teams will race in a brand-new car specifically designed for the V10 R-League.

 

The professional sim drivers will race virtually on a full racing rig, with their camera and audio feeds controlled live from Gfinity's TV studio in Fulham, London. All content will be available across the Gfinity Digital Media Network and all team channels, as well as through regional and global distribution partners. Season 1 will air 'as live' at the end of August and throughout September 2020. Broadcast schedules are currently being finalised. Season 2 will air in Q1 2021.

 

The V10 R-League uses the Assetto Corsa game. It was chosen as it allows the use of custom cars, has iconic tracks and delivers stunning visual imagery. It is widely used by the world's leading sim drivers. The game also offers significant scope for in-game advertising, adding to the commercial opportunities within the competition.

 

The ADMM and Gfinity commercial teams are currently in negotiation with leading broadcasters and brands for multi-year deals to support the V10 R-League and expect to be able to announce them in the coming weeks. 

 

Saif Al Noami, Acting CEO ADMM said: "It is fantastic to see the first competition within the Global Racing Series come to life so creatively. Having the support and commitment from iconic racing and esports brands who will be stakeholders in the V10 R-League is testament to the concept. The Global Racing Series, will become the natural home for professional sim racing competition and we look forward to adding more innovative leagues in the weeks and months ahead."

 

Gfinity CEO, John Clarke said, "There has been a massive spike in interest in virtual motorsport, a key pillar of our Company strategy. We are excited to launch the V10 R-League, which has already attracted some of the biggest names in racing.  The format has captured the imagination of teams, drivers, broadcaster and brands.  The Global Racing Series and V10 R-League contribute positively towards Gfinity's stated goal of being profitable in Q1 2021."

ENDS

Notes to Editors

Watch trailer for V10 R-League - https://youtu.be/xsCecX4FprQ

Enquiries:

Gfinity plc

John Clarke, CEO

www.gfinityplc.com

Via Teneo

Investor relations

[email protected]





Teneo (Media)

Tel: +44 7464 982426

Camilla Cunningham

[email protected]





Allenby Capital Limited (AIM Nominated Adviser & Broker)

Tel: +44 (0)20 3328 5656

Jeremy Porter / James Honigold (Corporate Finance)

Amrit Nahal (Sales)


About Gfinity

Gfinity (AIM: GFIN) is a world leading esports business. Created by gamers for the world's 2.2 billion gamers, Gfinity has a unique understanding of this fast-growing global community.  It uses this expertise both to provide advisory services and to design, develop and deliver unparalleled experiences and winning strategies for game publishers, sports rights holders, commercial partners and media companies.

Gfinity connects its partners with the esports community in authentic and innovative ways. This consists of on‑ and off-line competitions and industry‑leading content production. Relationships include EA SPORTS, Activision Blizzard, F1 Esports Series and the Forza Racing Championship.

Gfinity connects directly with competitive gaming consumers through its growing community of gamers on its own platforms: Gfinityesports, RealSport101 and StealthOptional.

All Gfinity services are underpinned by the Company's proprietary technology platform delivering a level playing field for all competitors and supporting scalable multi-format leagues, ladders and knockout competitions.

About Abu Dhabi Motorsports Management 

Abu Dhabi Motorsports Management (ADMM), with its head office at Yas Marina Circuit, Yas Island, has created unique, world class experiences across Abu Dhabi since 2009.

ADMM have promoted and delivered globally significant events, including Formula 1 Etihad Airways Grand Prix, alongside over 400 events a year across motorsports, health and fitness, entertainment and major corporate conferences. The company also delivers a significant programme of motorsport retail experiences for business and consumer audiences at Yas Marina Circuit across the year. This combined experience means that ADMM has a region-leading team with expertise in event marketing, communications, promotions and project management. Such talent firmly positions ADMM as a leader in sports management.

The company is now seeking to diversify into activities and strategic ventures beyond Yas Marina Circuit in order to build towards a broader long-term vision aligned with its partners and stakeholders in Abu Dhabi.


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