Watford FC sees its latest move as a way to allow fans own a piece of the club they so much hold dearly to their hearts.
Watford FC, one of the oldest English football clubs, is buzzing with excitement following a recent innovation. The 150-year-old club is stepping into the unfamiliar terrain of digital assets by offering digital equity sales comprising approximately 10% of its shares. To facilitate the equity sale, the club has joined forces with Republic, a leading investment platform. This means that the equity will be available on Republic and on Seedrs, Republic’s European platform.
Watford FC sees its latest move as a way to allow fans to own a piece of the club they so much hold dearly to their hearts.
By the football club’s estimates, the funds raised from the digital equity sale are expected to bolster its growth on all fronts. That is funds will be pumped back into the men’s first team through training initiatives, player recruitment, and coaching upgrades.
Besides, the club is also keen on tapping the power of digital assets to boost the Watford FC brand. To achieve this, the club has figured out the need to foster a deeper connection with fans. Therefore, its plans include allowing fan to trade tokens somewhere in the near future.
Watford FC Offers Digital Ownership to Fans amid Growing Trend of Fan Token
These tokens, according to Scott Duxbury, chairman and CEO of Watford FC, represent “true ownership” for fans. Duxbury’s statement reads partly:
“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.”
Meanwhile, Watford FC’s foray into digital ownership is not a standalone decision. As a fact, it reflects a growing trend in not just soccer but in sports generally. Clubs worldwide are recognizing the potential of digital assets like tokenized shares and NFTs (non-fungible tokens). These assets have proven not just to boost fan engagement but also help in securing capital.
Just recently, living football legend Cristiano Ronaldo released his own NFT collection showcasing career highlights. Manchester City also came out with its limited-edition jersey offering that was tied to exclusive NFTs.
Watford FC’s unique approach will no doubt pave the way for a future where digital ownership becomes commonplace in sports. This could usher in an era of fan engagement where supporters transform from mere spectators into invested stakeholders.
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