Football club Watford has partnered with investment platform Republic to sell roughly 10% of the club's equity to mom-and-pop investors.
The Hertfordshire club, just up from the Championship in 2020, is looking to raise £17.5 million, valuing it at £175 million total.
The program for European fans will launch in the near future via crowdfunding platform Seedrs. This was the same platform that hosted a similar move by AFC Wimbledon in the UK and Orange County SC in the U.S. Fans can become part-owners by investing, with a minimum of £49.76 on Seedrs or £99.52 on Republic.
For just one stock, fans will receive an official certificate of ownership, a shareable social media graphic, as well as an owner’s pin. However, perks offered to fans increase incrementally based on the size of their investment.
Watford was actually ahead of the curve when it came to crypto. The team had Bitcoin on their shirts for a while back in 2019, and even allowed fans to use cryptocurrency to buy stuff at the stadium.
The fresh capital injection will be used to improve the performance of the club's teams, particularly the men's first team, in areas like player recruitment, training, and coaching.
Watford FC is a 150-year-old club, having spent six of the last ten seasons in the prestigious English Premier League. The club aims to attract a wider range of investors through this digital equity offering, allowing fans to own a part of the club. Investors will also have the option to receive tokens and access exclusive offers.
"We 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 Watford FC Chairman and CEO Scott Duxbury. "We believe this is an innovative and inclusive way to help us return to the Premier League."
Republic has a history of working with sports clubs to raise capital and grow brand value.
"This sale is, to date, the largest digital equity offering to unlock true ownership shares in an English football club," said Andrew Durgee, President of Republic. "We are committed to making sports ownership more accessible for fans and professional investors alike."