English professional football team Watford Football Club, known as Watford FC, has launched a digital share sale involving approximately 10% of its shares.
The nearly 150-year-old British football team has partnered with digital investment platform Republic to facilitate the sale of the shares, which will be available on the platform and on Seedrs, Republic’s European platform.
According to an announcement shared with Cointelegraph, the capital will be used to fund team training initiatives, notably in the men’s first team, as well as for the recruitment and training of new players and to develop the Watford FC brand.
Through a digital equity offering with Republic, Watford FC aims to attract a wide range of investors and allow fans to own a part of the football club.
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Watford Football Club plans to exchange fan tokens in the future
Investors will be able to purchase shares of the digital stock, tokens and exclusive offers from the football club.
Fan tokens received by investors will become tradable in the future and provide “real ownership” for fans, according to Scott Duxbury, Watford’s chief executive officer. he said:
“We are always looking for ways to contribute to the development of Watford FC to deliver our plans and are proud to be the first major English football club to offer real equity stakes to a wide range of investors, including supporters, through digital capital.”
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Symbolic actions and digital assets: a new way to increase fan engagement in sport?
More and more sports clubs are using digital assets such as equity tokens or non-fungible tokens (NFTs) to increase user engagement and equity.
At the end of May, soccer star Cristiano Ronaldo released his fourth NFT collection in partnership with Binance Exchange, showcasing highlights from his sporting career.
At the end of April, Manchester City released limited edition jerseys linked to rare NFTs which allow holders to win a limited number of unique jerseys and match experiences. The NFT collection was launched in partnership with OKX.
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