Watford FC, a team in the English Championship, will sell club equity through the digital investment platform Republic.

On June 4, 2024, Watford Football Club (Watford FC, the Hornets) of the United Kingdom's professional football team announced a partnership with investment platform Republic, planning to sell approximately 10% of the club's equity to investors, including fans. In this collaboration, the stocks 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 for the recruitment, training, coaching, and other expenses of various teams in the club, improving all aspects of the team, especially the first team, and further developing the Watford FC brand.

As a British football club with nearly 150 years of history, the Hornets have played at the iconic Vicarage Road stadium in the Greater London area. In the past ten seasons, they have competed in the English Premier League, which has had the highest number of spectators and the greatest influence in the world for six of those seasons. The Premier League's revenue reached 6.1 billion pounds in the 22/23 season, compared to just 2.6 billion pounds a decade ago.

In recent years, the club has undergone a transformation and now has industry-leading facilities, an internationally recognized player recruitment program, and a series of strategic partnerships with well-known brands. This has led to good performances both on and off the field, particularly with their appearance in the 2019 FA Cup final and revenue of £66 million and pre-tax profits of £24.1 million in the 22/23 season, reportedly the highest among British football clubs outside of the Premier League.

Watford's honorary chairman and famous fan Elton John, who served as chairman and owner when the Hornets rose from the fourth tier to the top tier in the 1970s and 1980s. The East Stand, where the players' dressing room and tunnel are located, is named after the 'Rocket Man'.

Through the partnership with Republic, Watford FC hopes to attract a broader range of investors than traditional equity financing, especially enabling fans to own a part of the club's history and future. In addition to digital equity, investors can also choose to receive tokens and receive exclusive benefits. Watford FC also plans to facilitate the trading of tokens in the future.

"We have been looking for ways to help Watford FC grow and achieve our plans. 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 that this is an innovative and inclusive way to help achieve this goal."

Republic is industry-leading in democratizing football club ownership, with extensive experience in bringing together club communities and other investors to help enhance brand value, sporting achievements, and business performance. From AFC Wimbledon in the UK to Orange County SC in the US, the platform has collaborated with numerous clubs worldwide.

"We are excited to launch this exciting sports investment opportunity on the Republic platform," said Republic President Andrew Durgee. "This equity sale is the largest digital equity issuance to date, ushering in a new era of ownership distribution for a UK football club. As a platform, we are committed to making sports ownership more accessible to fans and professional investors."

As part of the equity offering, the club is valued at 175 million pounds and plans to raise approximately 17.5 million pounds. The price per share is set at 12.44 pounds, with a minimum investment of four shares for investors purchasing stocks through the Seedrs platform, totaling 49.76 pounds; investors purchasing through the Republic platform have a minimum investment of eight shares, totaling 99.52 pounds.

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 here constitutes an offer or invitation to sell or purchase any securities. Past performance does not guarantee future performance. All investments, including football investments, involve risks and are not guaranteed to yield returns.

For 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, then known as Watford Rovers, during which time many unforgettable historical moments were created. The nickname 'The Hornets' comes from the 1970s when the club's home kit was a combination of yellow and black. In 2012, the club was acquired by the Pozzo Family, and most recently it is owned personally by Gino Pozzo.

Currently, the men's first team is in the second tier of English football, the English Football League Championship (EFL Championship), and they are eager to return to the world-renowned English Premier League. In the past ten seasons, they have competed in this globally highest-rated top-level event, contending with many global football superpowers for six of those seasons. Meanwhile, Watford Women's Football Club (Watford Women FC) recently competed in the English Football Association's Super League system, participated in the Women's FA Cup, and won the final of the Women's National League Playoff. The Watford men's team reached the final of the famous FA Cup in 1984 and 2019, and has also participated in the UEFA Cup over the past 40 years, consistently ranking among the top 30 in the English football pyramid.

About Republic

Republic is based in New York City and is a global financial company that operates an enterprise-focused digital business bank and a retail investment platform. With support from leading institutions such as Morgan Stanley, Valor Equity Partners, Galaxy Interactive, Hashed, AngelList, and others, Republic has a portfolio of investments from 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. Republic has operations in the United States, United Kingdom, European Union, United Arab Emirates, South Korea, and Singapore.

About Seedrs (a subsidiary of Republic)

Seedrs is a well-known online private investment platform in Europe that allows individual investors to invest in startups, growth companies, and (if eligible) top-tier venture capital funds, while also allowing entrepreneurs from various industries to raise funds from their community, angel investors, and institutional investors. Since its launch in 2012, Seedrs has funded over 2,200 transactions with a total financing amount of over 2.8 billion pounds. With Seedrs being acquired by Republic in 2022, it is now a subsidiary of the world's largest private investment platform, with nearly 3 million members worldwide. The combination of Seedrs and Republic provides investors and entrepreneurs with better access to global capital and investment opportunities.