On June 4, 2024, the English professional football team Watford Football Club (Watford FC, the Hornets) announced a collaboration with the investment platform Republic to sell approximately 10% of the club's equity to investors, including fans. In this partnership, the shares will be sold through Republic's online platform and its European subsidiary platform, Seedrs.
The funds raised from this equity sale will be used to support the club's various teams in player recruitment, training, coaching, and overall performance improvement, particularly for the men's first team, as well as further developing the Watford FC brand.
As a nearly 150-year-old English football institution, the Hornets play at the iconic Vicarage Road stadium in the Greater London area. Over the past decade, they have competed in the English Premier League, one of the world's most-watched and influential leagues, for six seasons. The Premier League's revenue reached £6.1 billion in the 22/23 season, compared to £2.6 billion a decade ago.
In recent years, the club has undergone a transformation, now boasting industry-leading facilities, internationally recognized player recruitment programs, and a series of strategic partnerships with well-known brands. This has led to strong on and off-field performances, notably their appearance in the 2019 FA Cup final and generating £66 million in revenue and £24.1 million in pre-tax profit in the 22/23 season, reportedly the highest among non-Premier League English football clubs.
Elton John, the lifelong honorary chairman and renowned fan of Watford, served as chairman and owner during the Hornets' rise from the fourth tier to the top tier in the 1970s and 80s. The East Stand, where the players' dressing room and tunnel are located, is named after "The Rocket Man."
Through the collaboration with Republic, Watford FC aims to attract a broader range of investors than traditional equity financing, particularly enabling fans to own a part of the club's history and future. In addition to digital equity, investors can choose to receive tokens and exclusive benefits. 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 English football club to offer genuine ownership stakes to a wide range of investors, including fans, through digital equity," said Watford FC Chairman and CEO Scott Duxbury. "We are determined to return the club to the Premier League and believe this is an innovative and inclusive way to help achieve this goal."
Republic is a leader in democratizing football club ownership and has extensive experience in bringing club communities and other investors together to enhance brand value, sporting achievements, and commercial performance. The platform has collaborated with numerous 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 will usher in a new era of distribution of ownership stakes in English 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 and aims to raise approximately £17.5 million. The share price is set at £12.44, with a minimum investment of four shares, totaling £49.76, for investors purchasing through the Seedrs platform, and a minimum investment of eight shares, totaling £99.52, for investors purchasing through the Republic platform.
Fladgate LLP serves as the legal advisor to Watford FC, and PSG Digital serves as the club's digital financial advisor.
The information provided is for reference only, and nothing herein constitutes 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.
See details: Republic.com/terms. Disclaimer: rep.pub/watford-disclaimer Risk Warning: rep.pub/sports-risks
About Watford FC
Watford FC was founded in 1881, originally known as Watford Rovers, and has since created many memorable historical moments. The nickname "The Hornets" comes from the club's home kit of yellow and black stripes in the 1970s. 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, with aspirations to return to the world-renowned English Premier League. Over the past decade, they have competed in this globally watched top-tier event for six seasons, challenging many global football powerhouses. Meanwhile, Watford Women's FC recently competed in the English Football Association's Super League system, participated in the FA Women's National League, and won the FA Women's National League Plate Final. The men's team has reached the finals of the prestigious FA Cup in 1984 and 2019, and has also participated in the UEFA Cup over the past 40 years, consistently ranking in the top 30 of the English football pyramid.
About Republic
Headquartered in New York City, Republic is a global financial firm operating an enterprise-focused digital business bank and a mass-market investment platform. With support from Morgan Stanley, Valor Equity Partners, Galaxy Interactive, Hashed, AngelList, and other leading institutions, Republic has a portfolio of over 2,000 companies and a community of nearly 3 million members from over 150 countries. Republic's investment platforms, funds, and companies collectively manage over $2 billion, with 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, allowing individual investors to invest in startups, scale-ups, and (where eligible) top-tier venture capital funds, while enabling entrepreneurs across 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 funding participation exceeding £2.8 billion. Following its acquisition by Republic in 2022, Seedrs is now a subsidiary of the world's largest private investment platform, with nearly 3 million members globally. The combination of Seedrs and Republic provides better access to global capital and investment opportunities for investors and entrepreneurs._
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