British organisation Team Endpoint has extended its partnership with second-hand technology retailer CeX and appointed key players to its board.
Hugh Man and Frank Orchard, the Chairman and Franchise Director of CeX respectively, have joined Team Endpoint’s board in non-executive roles as part of the equity-linked agreement. Exact financial details were not disclosed, however, the organisation confirmed that it is a ‘seven-figure’ deal.
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According to the release, the partnership will give Endpoint the financial security it needs to guarantee its full-time staff and establish a headquarters in Sheffield. Additionally, Endpoint has said that Man and Orchard’s appointment is expected to allow the organisation to ‘grow the brand to the global stage’. The new agreement is set to last for a minimum of five years.
Adam Jessop, CEO of Team Endpoint, commented: “CeX’s support has been great this year and this landmark deal will enable us to build upon our sustainable business for the next five to ten years. Hugh and Frank coming on board will bring a wealth of experience with them that will help us elevate our existing operations.”
When the partnership was first announced in January of 2020, ‘community and gaming experiences’ were set to be held in CeX’s stores across the United Kingdom, with the aim of educating people on the need for up-to-date technology when gaming.
The pandemic changed many of those plans, however, the two brands collaborated in other ways and participated in a range of activations. This included playing a CS:GO match against one another during the Spring 2020 ESL Premiership.
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Man added: “We are delighted to strengthen our relationship with Endpoint who continue to grow in stature not only within the UK esports arena but also on the global stage. CeX was founded by people with a deep passion for video games and all things tech, so our association aligns well with our shared ambition to have a dominant presence in the online gaming space while continuing to establish and grow our CeX brand worldwide.”
Endpoint’s CS:GO roster is competing in Season 13 of ESL Pro League while its Rocket League team is playing in the RLCSX. The organisation’s Rocket League team is currently one of the top eight in Europe.
Esports Insider says: In many ways, the pandemic helped to strengthen partnerships through adversity. What began as plans for in-store activations has now evolved into a financial alliance that links both brands together for stability in the coming years.