Watford FC plans to raise $23m from fans via Crypto Firm Republic

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

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

Watford to sell 10% equity

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

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 buying the equity on Seedrs. On the other hand, those buying into Republic must buy a minimum of eight shares for a total of £99.52 ($127.04).

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

“We are always looking for ways to help grow Watford FC to deliver on our plans and are proud to be the first major English football club to offer real ownership shares to a wide range of investors, including fans, in through digital equity”. said Scott Duxbury, chairman and chief executive of Watford FC, adding that the club’s management intend to return to the Premier League through the share sale initiative.

Attract a wider range of investors

Through its alliance with Republic, Watford FC aims to attract a wider range of investors than would have been achieved through a traditional capital raising. Investors participating in the offering will have the option to access exclusive offers and receive club tokens, which will be traded in the future.

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

Watford FC’s equity sale presents an opportunity for fans to own a part of the club’s legacy and future, in addition to its digital heritage. Although investors will not have voting rights in the club, they will receive dividends from their investments.

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