TLDR
- Watford FC, an English soccer club currently playing in the EFL Championship, is offering 10% of the club’s equity to fans and investors through investment platform Seedrs.
- The club aims to raise around £17.5 million ($22.3 million), valuing the club at £175 million.
- Investors will receive digital equity and have the option to receive tokens that provide access to exclusive offers, with the possibility of future token trading.
- The fresh capital will be used to improve the performance of the club’s teams, particularly the men’s first team, in areas such as player recruitment, training, and coaching.
- Watford FC has a history of being an early adopter of cryptocurrency, having previously featured Bitcoin on their shirts and allowing fans to use crypto for purchases at the stadium.
Watford FC, a historic English soccer club with a 150-year legacy, has announced an innovative plan to offer 10% of the club’s equity to fans and investors through the European arm of investment platform Republic, Seedrs.
The move marks a significant step towards democratizing sports ownership and engaging with the club’s passionate supporter base.
The Hertfordshire-based club, which has spent six of the last ten seasons in the prestigious English Premier League, is aiming to raise approximately £17.5 million ($22.3 million) through this digital equity offering. The club has set a price per share of around £12, valuing the club at an impressive £175 million.
Watford FC Chairman and CEO Scott Duxbury expressed pride in being the first major English football club to offer true ownership shares to a wide range of investors, including fans, through digital equity. He stated,
“We believe this is an innovative and inclusive way to help us return to the Premier League.”
The partnership with Republic aims to attract a diverse range of investors, beyond those typically reached through traditional equity raises. By enabling fans to own a piece of the club’s legacy and future, Watford FC is strengthening its bond with its dedicated supporters.
Investors who participate in the digital equity offering will not only receive a share in the club but also have the option to receive tokens that grant access to exclusive offers. The club has plans to enable trading of these tokens in the future, further enhancing the value and liquidity of the investment.
Watford FC’s decision to embrace digital equity and cryptocurrency is not entirely surprising, given the club’s history of being an early adopter in the space. In 2019, the team featured Bitcoin on their shirts and allowed fans to use cryptocurrency to make purchases at the stadium.
The fresh capital injection from the equity offering will be used to bolster the performance of the club’s teams, with a particular focus on the men’s first team. Areas such as player recruitment, training, and coaching will benefit from the increased resources, enabling Watford FC to compete at the highest level and strive for a return to the Premier League.
Republic, the investment platform facilitating the equity offering, has a track record of working with sports clubs to raise capital and grow brand value. Andrew Durgee, President of Republic, commented on the significance of the sale, stating,
“This sale is, to date, the largest digital equity offering to unlock true ownership shares in an English football club. We are committed to making sports ownership more accessible for fans and professional investors alike.”
The minimum investment for fans is set at £49.76 on Seedrs and £99.52 on Republic, making it accessible to a wide range of supporters. Perks offered to fans will increase incrementally based on the size of their investment, further incentivizing participation.
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