Watford FC fans will be able to have 10% ownership of the football club via tokens – DiarioBitcoin
By Hannah Perez
The English football club Watford FC has partnered with Republic to offer the 10% of their shares to fans in the form of digital tokens.
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- England-based Watford FC to offer part of its shares in token form to fans
- The team playing in the Championship partnered with Republic for the tokenization initiative
- He is far from the first in the football sphere to turn to cryptocurrencies and Web3
This English football club will allow its fans to obtain part of the ownership of the team through cryptocurrencies.
Watford F.C., which plays in the Championship, the second tier of the English professional football league system, announced this Tuesday its plans to tokenize and offer 10% of the club to fans and investors.
“Through this offering, fans, along with investors, will not only have the opportunity to own a share, but will also be able to receive tokens and other exclusive offers.“the team said in a press release.
The initiative is part of an alliance with Republica digital asset company offering advisory and infrastructure services Blockchain to web3 creators and investors.
In particular, the club said it aims to raise around 17.5 million pounds ($22.3 million), setting a share price of around 12 pounds, with the aim of offering 10% of the shares to fans. . While holders will not have voting rights, the club will distribute dividends to investors, something rare in football club ownership.
Interested parties will be able to make a minimum investment of four shares for a total of 49.76 pounds or approximately USD $63.5. Shares are available through the platform Seedrsthe European arm of Republic. The shares will be locked for a period of 12 months from the time of purchase before trading, the organization said.
The team said it hopes the initiative will help it attract a new range of investors and fans. He added that will allow the trading of these tokens in the future and that the Foreign investors will be able to participate through the platform Republic.
“Like many other clubs, we have been exploring opportunities to attract investment into the club as we look to further grow the club and strengthen income streams. which, in turn, allow us to strengthen the playing teams“, reads the statement.
WatfordEditcurrently involved in the EFL Championship, has competed regularly in the Premier League over the last decade.
The club is most famous for its meteoric rise through the Football League in the 1970s and 1980s, as detailed CoinDesk. With pop star Elton John as chairman, the club rose from the Fourth Division in 1977 to First Division runners-up in 1983 and then reaching an FA Cup final the following year.
Digital assets for football fans
He is the latest in the professional football sphere to turn to cryptocurrencies as an alternative method of financing and as a different way to get closer to his fans.
Historically, football clubs have sought financial support from fans through debt instruments, something teams such as Bolton Wanderers and Queens Park Rangers. However, for some time now, the practice has become less common as sports organizations have begun to turn to digital assets.
An example of this trend was the association of the Premier Leaguethe highest category of the football league system in England, with Sorare last year to offer fans collectible digital cards in the form of NFTs from member clubs, including Arsenal, Manchester City, Liverpool and Manchester United.
Renowned teams like FC Barcelona, Manchester City, Juventus, Arsenal, Inter Milan and AC Milan They are some of those who already have their own digital tokens for fans.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
