Gfinity PLC Gfinity signs multi-year agreement with Formula 1 (4594N)
May 20 2020 - 2:02AM
UK Regulatory
TIDMGFIN
RNS Number : 4594N
Gfinity PLC
20 May 2020
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
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20 May 2020
Gfinity plc
("Gfinity" or the "Company")
Gfinity signs multi-year agreement with Formula 1 to deliver F1
Esports Series
Virtual Grand Prix extended to June of this year
Gfinity (AIM: GFIN), a world-leading esports and gaming
solutions provider, announces that it has extended its relationship
with F1 and been appointed to deliver the main elements of the F1
Esports Series in 2020 and 2021, and the 2022 qualifying events. In
addition, the previously announced F1 Esports Virtual Grand Prix
Series has been extended to June of this year.
As part of the agreement for the F1 Esports Series, in 2020
Gfinity will deliver the Pro Draft Reveal Show and the Pro Series;
in 2021 Gfinity will deliver the Challenger Series qualifying
events, Pro Draft live show and Pro Series; and in 2022, Gfinity
will deliver the qualifying events. Full details of the 2020 season
format will be announced in due course.
Under the terms of the contract, Gfinity will deliver a
dedicated account management team responsible for the delivery of
all elements of the programme; a full league operations team
responsible for writing all rules and governing the drivers
participating in the tournament; and provide the use of 'Race
Control', Gfinity's proprietary in-race adjudication system. The
Gfinity Arena in London will also be the main venue for live
broadcasts.
Gfinity has been working with Formula 1 and Codemasters (CDM.L),
a leading UK publisher of racing games, to design, develop and
deliver the main elements of the F1 Esports Series since 2017.
In addition, further to the announcement on 23 March 2020 that
Gfinity had been selected to deliver the new F1 Esports Virtual
Grand Prix Series, the Series has now been extended until June. The
Virtual Grand Prix Series will replace each live F1 Grand Prix that
has been postponed due to the coronavirus. Gfinity worked closely
with Formula 1 on the conception of the series and oversees the
delivery of the tournament, tournament operations and broadcast
production. The first race, the Virtual Bahrain Grand Prix took
place on Sunday 22 March 2020. Since then there have been four
additional Virtual Grand Prix in Vietnam, China, the Netherlands
and Spain, and three F1 Esports Challenge Driver events.
John Clarke, Chief Executive Officer, Gfinity said: "The F1
Esports Series is one of the most exciting esports tournaments in
the world and we are delighted to be working with F1 for a further
two years. Signing a multi-year agreement highlights our ability to
leverage our unique position at the centre of the esports ecosystem
to design and develop esports solutions for our clients. The
Virtual Grand Prix Series has also caught the imagination of race
fans as, shown by the amazing viewing numbers, and we are excited
that a new, younger global audience is experiencing the F1 brand in
a totally different way."
Dr. Julian Tan - Head of Digital Business Initiatives and
Esports, Formula 1(R) said: "We are delighted to extend our
agreement with esports leaders Gfinity for another two years. Since
2017, we have seen the rapid growth of the F1 Esports Series and
Gfinity have played a core part in that through their continued
support in developing and delivering the series. We are excited to
build on this foundation to bring further excitement to F1 Esports
fans across the globe in the coming couple of years."
ENDS
Enquiries: www.gfinityplc.com
John Clarke, Chief Executive Officer Via Teneo
Gfinity investor relations ir@gfinity.net
Allenby Capital Limited - AIM Nominated Adviser Tel: +44 (0) 20 3328
and Broker 5656
Jeremy Porter / Nicholas Chambers
Teneo - Media Tel: +44 (0) 7464
982426
Camilla Cunningham Gfinity@teneo.com
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 and RealSport101.
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.
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END
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