Watford FC is providing a 10% ownership stake in the club domiciled in digital tokens to investors and fans via Seedrs, the European division of the investment platform Republic. As reported by The Block, the English soccer team which just finished competing in the EFL Championship, aims to raise approximately 17.5 million pounds ($22.3 million), with a share price of 12 pounds.
Watford FC Forges New Digital Tokens Path
In the pursuit of enhancing Watford FC’s growth, the club stands as the first English football club to offer genuine ownership shares to a diverse range of investors, including fans, through digital equity. Watford FC Chairman and CEO Scott Duxbury said this move is to guide the club back to the Premier League. He noted that this decision is a forward-thinking and inclusive approach to support the club’s endeavor.
The football club based in London, has been featuring in the English Premier League for more than half of the past ten seasons. In a press release, it stated a pre-tax profit of 24.1 million GBP in the 22/23 season.
Watford FC, with Republic, aims to involve a wider investor base than traditional methods. Fans can now own a part of the club’s legacy and future with tokens offering exclusive perks. Trading of these tokens will be enabled in the future.
Republic asserted that this sale marks the most extensive digital equity offering thus far to unlock genuine ownership stakes in an English football club.
Brief History About Watford FC
Watford FC has a rich history, particularly known for its remarkable journey through the football leagues in the 1970s and 1980s. With the legendary Elton John as chairman, the club made a significant leap from the Fourth Division in 1977 to finishing as the runner-up in the First Division in 1983.
The club later made it to an FA Cup final the following year. Additionally, Sir Elton John holds the esteemed position of the club’s Honorary Life-President. Following this trend made by Watford FC’s, Anichess, a Web3 gaming project, has made waves in the sports world with a decisive embrace of Chess development to diversify sports and games on the blockchain.
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