On June 4, 2024, Watford Football Club (Watford FC), a professional football team from England, announced a partnership with investment platform Republic. The club plans to sell approximately 10% of its shares to investors, including fans. The shares will be sold through Republic’s online platform and its subsidiary platform, Seedrs, in Europe.
The funds raised from this equity sale will be used to support various aspects of the club’s teams, including player recruitment, training, and coaching, to improve their performance, especially the men’s first team. The funds will also be used to further develop the Watford FC brand.
With a history spanning nearly 150 years, Watford FC is an iconic football institution based in Vicarage Road, London. In the past ten seasons, the club has competed in the English Premier League, one of the most-watched and influential football leagues in the world, for six seasons. The revenue generated by the Premier League reached £6.1 billion in the 22/23 season, compared to £2.6 billion ten years ago.
In recent years, the club has undergone a transformation and now boasts industry-leading facilities, internationally recognized player recruitment programs, and a range of strategic partnerships with well-known brands. This has resulted in impressive performances both on and off the field, including their appearance in the 2019 FA Cup final and a revenue of £66 million and pre-tax profit of £24.1 million in the 22/23 season, reportedly the highest among non-Premier League football clubs in the UK.
Elton John, a famous fan and honorary lifetime chairman of Watford, served as chairman and owner of the club during the 1970s and 1980s when they rose from the fourth tier to the top tier of English football. The East Stand, where the players’ dressing room and tunnel are located, is named after him, known as the “Rocket Man.”
Through the partnership with Republic, Watford FC aims to attract a wider range of investors, particularly fans, by offering digital equity. In addition to digital shares, investors will have the option to receive tokens and exclusive perks. Watford FC also plans to facilitate token trading in the future.
“We have been looking for ways to help Watford FC grow and achieve our plans, and we are proud to be the first UK football club to offer true ownership shares to a wide range of investors, including fans, through digital equity,” said Scott Duxbury, Chairman and CEO of Watford FC. “We are determined to bring the club back to the Premier League and believe this is an innovative and inclusive way to help achieve that goal.”
Republic is a leading company in democratizing football club ownership, with extensive experience in bringing club communities and other investors together to enhance brand value, sporting achievements, and commercial performance. The platform has collaborated with various clubs globally, from AFC Wimbledon in the UK to Orange County SC in the US.
“We are excited to launch this exciting sports investment opportunity on the Republic platform,” said Andrew Durgee, President of Republic. “This equity sale is the largest digital equity offering to date and marks a new era in the distribution of ownership shares in UK football clubs. As a platform, we are committed to making sports ownership more accessible to fans and professional investors.”
As part of the equity sale, the club is valued at £175 million, with plans to raise approximately £17.5 million. The share price is set at £12.44, and investors purchasing shares through the Seedrs platform have a minimum investment of four shares, totaling £49.76. Investors purchasing through the Republic platform have a minimum investment of eight shares, totaling £99.52.
Fladgate LLP serves as Watford FC’s legal advisor, and PSG Digital is the club’s digital financial advisor.
The provided information is for reference only, and any content here does not constitute an offer or invitation to sell or purchase any securities. Past performance is not indicative of future results. All investments, including football investments, involve risks and are not guaranteed to yield returns.
For more details, please refer to Republic.com/terms. Disclaimer: rep.pub/watford-disclaimer. Risk Warning: rep.pub/sports-risks.
About Watford FC:
Watford FC was founded in 1881 under the name Watford Rovers and has since created many unforgettable moments in its history. The nickname “The Hornets” comes from the club’s home kit, which features a combination of yellow and black. In 2012, the club was acquired by the Pozzo family and is currently owned by Gino Pozzo.
Currently, the men’s first team competes in the EFL Championship, the second tier of English football, and aims to return to the world-renowned Premier League. In the past ten seasons, they have competed in this highly-watched top-level competition, challenging many football powerhouses worldwide. Meanwhile, Watford Women’s Football Club recently played in the FA Women’s Super League system and participated in the FA Women’s National League Play-Off Final, which they won. The Watford men’s team has reached the finals of the famous FA Cup in 1984 and 2019 and has also participated in the UEFA Cup in the past 40 years, consistently ranking among the top 30 in the English football pyramid.
About Republic:
Headquartered in New York City, Republic is a global financial company that operates an enterprise-focused digital commercial bank and a crowdfunding platform for the public. With support from leading institutions such as Morgan Stanley, Valor Equity Partners, Galaxy Interactive, Hashed, AngelList, and others, Republic has a portfolio of over 2,000 companies and a community of nearly 3 million members from over 150 countries. Republic’s platforms, funds, and companies collectively manage over $2 billion. Republic has operations in the US, UK, EU, UAE, South Korea, and Singapore.
About Seedrs (a subsidiary of Republic):
Seedrs is a renowned online private investment platform in Europe that allows individual investors to invest in startups, growth-stage companies, and, if eligible, top-tier venture capital funds. It also enables entrepreneurs from various industries to raise funds from their community, angel investors, and institutional investors. Since its launch in 2012, Seedrs has facilitated over 2,200 transactions with total investments exceeding £2.8 billion. With the acquisition by Republic in 2022, Seedrs has become a subsidiary of the world’s largest private investment platform, with nearly 3 million members globally. The combination of Seedrs and Republic provides investors and entrepreneurs with better access to global capital and investment opportunities.
