The opportunity – which is targeting a sale of 10% of the club’s equity – is open to investors and fans alike and provides true ownership shares through digital equity
4th June 2024 –– English professional football team Watford Football Club (“Watford FC” or “the Club” or “the Hornets”) has partnered with leading global investment platform Republic to facilitate an equity sale of approximately 10% of the Club to investors, including its fans. Through this partnership, shares will be available for purchase via Republic’s online platform and Seedrs (Republic’s platform in Europe).
Capital raised from the sale will be used to fund initiatives that will improve the performance of the Club’s teams, particularly the men’s first team, in areas such as the recruitment of players, training and coaching, and will also help to further develop the Watford FC brand.
A nearly 150-year-old British footballing institution with a proud history, the Hornets play at the iconic Vicarage Road in the Greater London area and have spent six of the last ten seasons in the prestigious English Premier League, the most watched and most valuable football league in the world. In 22/23, Premier League revenues reached £6.1 billion, up from £2.6 billion just ten years ago.
The Club has undergone a transformation in recent years and now boasts industry leading facilities, an internationally recognised player recruitment programme, and a series of strategic partnerships with major brands. This has led to a resilient performance over time, both on and off the pitch, highlighted by an appearance in the 2019 FA Cup final and revenue of £66m in the 22/23 season, as well as £24.1m in pre-tax profit – reported to be the highest in English football outside of the Premier League.
Boyhood Watford fan Sir Elton John is the Club’s Honorary Life-President, having previously served as chairman and owner during the Hornets’ ascent from the Fourth to the First Division during the 1970s and 1980s. The eastern stand that houses the changing rooms and tunnel is named after the Rocketman.
Through this partnership with Republic, Watford FC aims to attract a wider range of investors than would be reached through a traditional equity raise, specifically enabling fans to own a piece of the Club’s legacy and future. In addition to the digital equity, investors will have the option to receive tokens and access exclusive offers. Watford FC also plans to facilitate the future trading of the tokens.
“We are always looking at ways that we can help grow Watford FC to deliver on our plans and 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 are determined to take the club back to the Premier League and believe this is an innovative and inclusive way of helping this happen.”
Republic is the industry leader in democratising ownership opportunities in football clubs and has a strong track record in bringing together a club’s community and other investors to help grow brand value, sporting success and commercial performance. From AFC Wimbledon in the UK to Orange County SC in the U.S, the platform has worked with a number of clubs globally.
“We are thrilled to launch another exciting sports investment opportunity on the Republic platform,” said Andrew Durgee, President, Republic. “This sale is, to date, the largest digital equity offering to unlock true ownership shares in an English football club. As a platform, we are committed to making sports ownership more accessible for fans and professional investors alike.”
As part of the equity offering, the Club is valued at £175 million and is aiming to raise approximately £17.5 million in funding. The price per share has been set at £12.44 and the minimum investment is four shares totalling £49.76 for investors purchasing their shares through the Seedrs platform, and eight shares totalling £99.52 for investors purchasing their shares through the Republic platform. Investors looking to purchase equity in Watford FC can sign up to Republic and register interest to participate in the offering.
Fladgate LLP acted as legal adviser to Watford FC, while PSG Digital acted as the Club’s digital finance adviser.
The information presented is for informational purposes and nothing here shall constitute an offer or solicitation for the sale or purchase of any securities. Past performance is not an indication of future performance. All investments, including football investments, involve risk and are not guaranteed.
See: Republic.com/terms.
Disclaimer: rep.pub/watford-disclaimer
Risks: rep.pub/sports-risks
ENDS
About Watford FC
Watford Association Football Club has enjoyed many recent memorable moments as it continues to create history, started with its inception in 1881 as Watford Rovers. The Hornets – a nickname spawned in the 1970s from the club’s use of a vibrant mix of yellow & black for its primary playing kit colours – were purchased by the Pozzo Family in 2012 and more recently owned by Gino Pozzo on an individual basis.
The men’s first team currently compete in English football’s second tier, known as the EFL Championship, and are aspiring to return in to the world-renowned Premier League, having spent six of the past ten seasons competing against many of football’s global superpowers in the top-flight of the world’s most-watched competition. Meanwhile, Watford Women FC has recently played within The Football Association’s Super League structure, competed in the FA Women’s Championship and won the FA Women’s National League Play-Off Final. Finalists in the prestigious men’s knockout FA Cup competition in both 1984 and 2019, Watford FC has also competed in the UEFA Cup during an illustrious last 40 years spent almost exclusively within the top 30 places of the English football pyramid.
About Republic
Headquartered in New York City, Republic is a global financial firm operating an enterprise-focused digital merchant bank and a network of retail-focused investment platforms. Backed by Morgan Stanley, Valor Equity Partners, Galaxy Interactive, Hashed, AngelList and other leading institutions, Republic boasts a portfolio of over 2,000 companies and a community of nearly three million members from over 150 countries. More than $2 billion has been deployed through investment platforms, funds, and firms within the Republic family of companies. Republic has established operations in the US, the UK, EU, the UAE, South Korea, and Singapore.
About Seedrs (part of Republic)
Seedrs (part of Republic) is Europe’s leading online private investing platform that allows individual investors to invest in startups, growth companies, and, if eligible, top VC funds, as well as enabling ambitious entrepreneurs in all sectors to raise capital from their communities, angels and institutional investors. Since its launch in 2012, Seedrs has funded over 2,200 deals, participating in rounds totalling over £2.8 billion. With the acquisition of Seedrs by Republic in 2022, it is now part of the largest private investing platform in the world, with nearly three million members globally. The combined strength of Seedrs and Republic gives both investors and entrepreneurs unprecedented access to capital and investment opportunities across the globe.
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