Proactive Investors - Run By Investors For Investors

Gfinity shares jump as it names sports industry heavyweight Garry Cook executive chairman

Cook has previously been the president of Nike’s Jordan brand, chief executive of Premier League champions Manchester City and chief global brand officer at the UFC
esports arena
There’s a big overlap between ‘real’ sports and esports

Gfinity PLC (LON:GFIN) shares jumped higher on Thursday following news the esports group has appointed heavy-hitting sports executive Garry Cook as its new executive chairman.

Cook was previously a non-executive director at the AIM-listed firm but will take over from Tony Collyer, who is to step down with immediate effect after a four-year stint as chairman.

READ: To Gfinity and beyond...

The British-born businessman has an impressive CV, having headed up Nike Inc’s (NYSE:NKE) Jordan brand, before moving on to become the chief executive of Premier League football club Manchester City.

More recently, he has held several high-profile roles at the Ultimate Fighting Championship, a mixed martial arts series which many have likened to esports in terms of its structure and growth potential.

Cook was chief global brand officer at the UFC until its sale for a reported US$4bn back in 2016.

US$1.65bn market by 2021

“I would like to thank Tony for leading the board in developing Gfinity to its current leading position within the esports industry,” said Cook in Thursday’s statement.

“There are many aspects of traditional sports that apply to the esports world. Some of the largest global sporting franchises are now engaging in this space and taking interest and participation to new levels.”

He added: “There are multiple opportunities for Gfinity in a rapidly developing sector, one that is forecast to grow to US$1.65bn globally by 2021.”

In early afternoon trading, Gfinity shares were 11.8% higher at 14.25p.

 -- Adds share price --

View full GFIN profile View Profile

Gfinity Plc Timeline

Related Articles

Buying online
November 14 2017
The company toned down full-year revenue guidance after a review of procedures but is still growing like topsy
Picture of XTEK's products
May 04 2018
Patersons' price target of $1.15 implies upside of 130% relative to XTEK's current share price.
The D3S detector kit
April 20 2018
Kromek, formerly Durham Scientific Crystals, was incorporated in April 2003 to commercialise technology that had been developed in the Physics Department of Durham University over a period of some 20 years.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use