Watford FC embarks on Digital Equity Sale Inviting Fans to Own Club Shares
Summary:
Watford Football Club is conducting a digital equity sale, partnering with online investment platform Republic. The sale includes roughly 10% of club's shares, with funds earmarked for training, recruitment, and brand development efforts. The club aims to diversify its investors and offer fans an ownership stake. Plans are also underway for token trading and digital assets.
Watford Football Club, a well-established English professional soccer team, is embarking on a virtual equity sale that includes roughly 10% of its stock. The British soccer team, with a history spanning nearly one and a half centuries, is working with the online investment resource Republic, to carry out the equity sale. It will be available both on Republic's platform and on the Europe-based platform Seedrs. As stated in an announcement released to Cointelegraph, the proceeds will be used to bankroll the club's training programs, specifically those of the main men's team, in addition to acquiring new players and enhancing the Watford FC brand. By offering its digital equities on Republic, Watford aims to draw in a more diverse set of investors and give fans the chance to own a part of the club. The club also has plans to give fans opportunities for token trading in due course. Investors can get hold of digital equity stocks, tokens, and special deals concerning the club. The fan tokens that investors receive will be tradable in the future, offering supporters a tangible stake in the club according to Scott Duxbury, Watford FC's CEO and Chairman. He stated that they constantly seek ways to help expand Watford FC and fulfill their objectives. He also pointed out that they are the first significant English soccer club to provide actual equity stakes to a broad spectrum of investors, including fans, via a digital platform. More sports clubs are leveraging digital assets such as tokenized equity shares or non-fungible tokens (NFTs) as a means of increasing user engagement and raising funds. At the end of May, soccer superstar Cristiano Ronaldo unveiled his fourth NFT collection in association with the Binance exchange. And at the end of April, Manchester City launched limited-edition jerseys linked to unique NFTs in a collaboration with OKX.
Published At
6/4/2024 1:37:24 PM
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