Professional English football team Watford Football Club wants to sell 10% of its equity to investors, including its fans.

According to a press release shared with CryptoPotato, Watford FC will offer the shares on crypto and startup investment platform Republic and its European crowdfunding arm Seedrs.

Watford to Sell 10% Equity

Per the announcement, Watford is looking to raise roughly £17.5 million ($22.3 million) from the equity sale. The club is valued at £175 million ($223 million) as part of the offering.

The football club is offering each share at £12.44 ($15.88) with a minimum investment of four shares totaling £49.76 ($63.51) for investors purchasing the equity on Seedrs. On the other hand, those buying on Republic must purchase a minimum of eight shares totaling £99.52 ($127.04).

Watford FC intends to use capital raised from the sale to fund initiatives geared at developing its brand and improving the performance of its teams, focusing on areas like the recruitment of players, training, and coaching.

“We are always looking at ways that we can help grow Watford FC to deliver on our plans and are proud to be the first major English football club to offer true ownership shares to a wide range of investors, including fans, through digital equity,” said Scott Duxbury, Watford FC Chairman and CEO, adding that the club’s management intends to take it back to the Premier League through the equity sale initiative.

Attracting a Wider Range of Investors

Through its alliance with Republic, Watford FC aims to attract a wider range of investors than it would have reached through a traditional equity raise. Investors who participate in the offer will face the option of gaining access to exclusive offers and receiving the club’s tokens, which will be traded in the future.

Republic president Andrew Durgee said: “We are thrilled to launch another exciting sports investment opportunity on the Republic platform. This sale is, to date, the largest digital equity offering to unlock true ownership shares in an English football club. As a platform, we are committed to making sports ownership more accessible for fans and professional investors alike.”

Watford FC’s equity sale presents an opportunity for fans to own a piece of the club’s legacy and future in addition to its digital equity. While investors will have no voting rights in the club, they will receive dividends on their investments.

The post Watford FC Plans to Raise $23M from Fans Via Crypto Firm Republic appeared first on CryptoPotato.

from CryptoPotato https://ift.tt/aKQWJ7F