OpenDeal Broker LLC charges you a two percent (2.5%) administrative fee on the gross principal transaction with a minimum fee of $7 and a maximum of $300. The fee is added to the total amount of your investment at checkout.Deals involving blockchain technology, crypto currencies and/or digital assets such as Security Tokens, Utility Tokens, or NFTs are extremely speculative and present additional risks and may result in total loss of invested capital. PLEASE READ AND REVIEW THOSE RISKS HERE.  

Investor sophistication and enhanced independent review of each deal is highly recommended. Sports valuations are highly variable and dependent on team performance, player status, financial conditions and other factors. Read more here.

Past financial results are no guarantee of future performance. Click here for important information regarding Financial Projections which are not guaranteed. Investments in private companies are particularly risky and may result in total loss of invested capital.

Risks of early stage investment. Not an offer to buy or sell securities. This is a long-term speculative illiquid investment. Investment is not FDIC or SiPC insured. This Issuer operates from a foreign jurisdiction; and therefore, many of your country's common laws may not apply or be enforceable. There may be other available opportunities that are similar to this investment but have different attributes, characteristics, cost factors, and fees. Click here for important information regarding Financial Projections which are not guaranteed.  

Investments in private companies are particularly risky and may result in total loss of invested capital.

There may be other available opportunities that are similar to this investment but have different attributes, characteristics, cost factors, and fees.

This Issuer operates from a foreign jurisdiction; and therefore, many of your country's common laws may not apply or be enforceable.

Under the direction of Owner Gino Pozzo and Chairman Scott Duxbury, Watford Football Club has undergone a transformation.


The Club’s facilities are now industry leading from the training ground to the matchday experience at Vicarage Road.

The renowned international player recruitment program is both a strength for squad building and for generating record profits in the player transfer market.

Strategic partnerships with major brands have led to the largest increase in commercial revenues across all European football clubs. 

The Club now has a five million strong following online in addition to its dedicated local supporter base. 

Watford FC has all the building blocks in place for its next goal - promotion to the Premier League and sustained success in England’s top flight.


Now, in alignment with this track record of development and innovation, Watford FC is providing its fans, other football lovers and savvy investors the opportunity to purchase digital equity in the historic Club. 

In addition to the digital equity, investors will also have the option to receive tokens and access exclusive offers, plus there are plans to facilitate future trading of the tokens.

 

Watford Football Club (Watford FC) currently play in the English Football League Championship, just one step away from the world’s richest football league, the Premier League.

The difference in financial profile between the two leagues is considerable.  Promotion to the Premier League brings over $150M of increased annual income across TV rights and commercial revenues in the first year alone. A presence in the Premier League also has the potential to activate a larger international fan base.

 

The Club has shown the capacity of playing at the highest level, spending six of the last ten years in the Premier League. The team also advanced to the FA Cup final in 2019.

Watford FC plans to continue investing across the squad and club infrastructure to attain promotion and then to sustain that success through a continued presence in the Premier League. 

Thanks to the development of new young players and planned additions to the squad, the Club believes the team has the potential to gain promotion to the Premier League during the 2024/25 season.

The chart above shows franchise valuation increases across major American sports leagues. Major European football clubs are seeing the same sort of gains.

In 2015, Manchester United became the first football club to reach a valuation over £1 billion. Today, their valuation sits at £4.8 billion with the average Premier League club pegged at £1.5 billion.

All 20 of the Premier League clubs rank among the 30 richest football clubs in the world. As a result, a sustained presence in the Premier League has been known to result in a club’s valuation growing 2x to 3x or more within a few years.



This pattern is in large part due to higher broadcast rights fees. The “live” nature of sports makes it one of the last programs that must be watched in real time, producing some of the largest viewing audiences and creating an attractive environment for advertisers.  

The Premier League is a clear example of this as the world’s most watched sporting property, reaching 188 countries and a cumulative audience for live programming of 1.35 billion. The league just signed a new agreement for UK broadcasting rights worth $2.6 billion per season with new international deals still to come.


The end result is generally tens of billions of dollars in higher rights fees which are then distributed to the clubs.


The Club’s dealings in the transfer market and expansion of commercial revenue have led to a level of financial performance that looks to be unprecedented in EFL Championship history.

Key sources of club income are broadcast and media rights, commercial revenue, matchday revenue, and player trading.

Broadcast and media rights comprise the highest percentage of ongoing revenue. This figure has the greatest potential for growth, up to $130m annually, should the Club progress to the Premier League.

Commercial revenues grew at the fastest rate of any European football club from 2018-22, increasing by 239%.

That increase reflects the popularity of football and the attractiveness of the Watford FC brand as demonstrated by partner deals signed with major international brands.

Player trading has a remarkable track record thanks to the club’s ability to leverage its scouting network to discover, attract and then sell young elite talent at a higher value. Over the past four years, the Club calculates that player sales have generated $255M in revenue with $182M in profits.

Matchday revenue rose to record levels with the strategic development of Vicarage Road. The stadium now features a high level of premium seat offerings as well as award-winning hospitality. Revenue has been maintained at a high level through both Championship and Premier League seasons.

The heart of any club with aspirations for Premier League success is player development.

Under the leadership of Chairman Scott Duxbury and owner Gino Pozzo, Watford FC became a key part of one of the world’s largest scouting networks with more than 15 scouts around the globe tracking data and performance on thousands of players. The Club looks to identify talent early, even beating giants like Liverpool and Manchester City to promising players.

This highly respected international recruitment program allows Watford to bring young talent into English football and develop elite players.

Historically, top talent have attracted substantial transfer fees and have gone on to play for larger clubs. Two of the most notable examples are Richarlison purchased from a Brazilian club for $13.1M and sold 12 months later to Everton for $41.6M and Joao Pedro who came to the club in 
January 2020 for $11.8M and was transferred to Brighton last summer in their most expensive purchase ever for $36.3M.

Total revenue from player sales over the past four seasons is $255M with net profits from those player sales at $146M.

The Club believes the new young players signed over the last few years have developed significantly and are prepared to contribute significantly to the squad in the 2024/25 push to reach the Premier League.

The new manager heading into the 2024/25 season is club legend and former captain, Tom Cleverley.  Since taking charge in March, the first team became one of the toughest defensive sides in the league, keeping clean sheets in more than half of their matches.  

His passion for the club is clear. “The club’s a massive part of my life. It’s embedded in my heart. I’d be lying if I’d say I hadn’t dreamt of achieving big things here.”

The players have responded well to his management:

Cleverley has also been involved in Watford’s player development program, meaning he understands the young talent at the club and will be looking to use it to bolster the squad.

Since its founding in 1881, Watford FC has always been a club deeply connected to its local community. The team have played at Vicarage Road in the heart of Watford for more than 100 years. The club’s most famous owner was Sir Elton John who attended Watford matches from the age of six. Elton bought the club in 1976 and ran it for 14 years before selling in 1990, then owned the Club again from 1997 to 2002.

Some of the club’s greatest successes occurred during this era in part thanks to Elton’s close relationship with manager Graham Taylor who would go on to manage the England national team.

Watford finished in second place during their first season in England’s top flight and followed on with a FA Cup final appearance in 1984.

The club first reached the Premier League in 1999 and have spent six of the last ten seasons playing on the world’s biggest broadcast stage.

Recent history also includes a trip to the 2019 FA Cup Final, England’s oldest competition. The Club also won what some call "the best ending to a match ever" where a penalty kick save was followed by a last second Watford winner at the other end to advance in the Championship playoffs.

The Club attracts a large and passionate following.  The Watford online fanbase is the 16th largest among English clubs with five million social media followers. More than 20 International Supporters groups show their love for the Hornets around the world.

The passion and faith of the supporters are shown on match day. Attendance for home matches in the last two seasons for the Championship averages 90% capacity. Season ticket renewal rates stand at more than 90%. 

The Club is also deeply connected with the local community. During the pandemic, the stadium was turned into a sanctuary for National Health Service staff with more than 1,000 free meals provided each day and more than 10,000 pairs of scrubs washed by the Club’s staff.  

Watford continues to be a driving force for inclusion in football through its Watford Welcomes initiative. The Club has received numerous awards including the Advanced Level for the Premier League’s Equity, Diversity, and Inclusion Standard.

The club’s majority owner is Gino Pozzo whose family has been involved in football club ownership since 1984 and purchased Watford FC in 2012.  

The family are long-time owners of Udinese, a club whose circumstances are similar to Watford. Udinese have played 29 consecutive seasons in Serie A, Italy’s top flight, and twice qualified for Europe’s leading club competition, the Champions League.

Gino Pozzo masterminded the creation of the international scouting network that supplies players and generates revenue.  

Scotty Duxbury is Club Chairman. His work to revitalize Vicarage Road led to significant improvements in match day revenue with subsequent awards for Best Pitch and Best Hospitality in the Premier League.

Now the Club is ready to take a leadership role in another element of the football business. The Pozzo family has recognized the movement toward fan ownership and is opening a piece of the club to fans and investors for the first time.

Gino Pozzo, Owner, with over 35 years’ experience in European football. Driving force behind international scouting network and player development programme.

Scott Duxbury, Chairman and CEO, over 27 years of working in football with 18 years of CEO experience. Extensive records of negotiating profitable player transactions and leading the business. Leader in Vicarage Road redevelopment which has been transformed since 2012, including awards for best pitch and Hospitality in the Premier League.

Gianluca Nani, Sporting Director, with extensive experience internationally and work with multiple clubs in England.

Tom Cleverley, recently appointed Manager of Watford FC. Formerly England international and Manchester United, Cleverley served seven years as a player at Watford, including time as Club Captain.

Paul O’Brien, Commercial Director, extensive experience in sports, joining Watford in 2015. Exceptional record in commercial development, overseeing the highest commercial growth across Europe.

Emiliano Russo, CFO, has worked throughout his career in international finance across London, Middle East and The Americas. Joining Watford in 2017, Emiliano has overseen the largest profit for a Championship Club since 2010.

Watford was the first Premier League team to feature the Bitcoin logo on the club shirt in 2019.

Through this offering, Watford FC is taking another pioneering step, becoming the largest English football club to offer fans, sports lovers, and savvy investors the opportunity to purchase a stake through a special private market offering.

The offering price per share is $15.95 with a minimum investment of $127.59.

These shares carry a pre money club valuation figure of £175M, equal to approximately $225M

It’s important to note these are true equity shares in the Club.  Digital equity refers to the shares being held in uncertificated "digital" form (rather than a paper stock certificate). 



It is not a “pay to play” fan loyalty token that requires the purchase of cryptocurrency to acquire it. The purchase can be made in fiat currency such as US dollars or UK pounds. You do not need to buy or own any cryptocurrency to purchase shares.

Through this offering, investors will not only have the opportunity to Club ownership via Equity, but may also be provided tokens and other exclusive offers, at the discretion of Watford FC.

There are also plans to facilitate future trading of the tokens on a regulated secondaries market.

Situated in the heart of the community, Vicarage Road has been home to Watford FC for 100 years.

Vicarage Road was fully revitalized early in the Pozzo ownership era, adding capacity to reach a figure of 22,000 with eight lounges and 20 corporate boxes as part of the stadium plan. Following these updates, the Club was recognized for Best Hospitality in the Premier League.

A strategic program for maintaining the Pitch was also created, resulting in such a high standard that the playing surface has been recognized as Premier League Pitch of the Year.

The naming of the stands tells the club’s story as well, recognizing club legends. The Sir Elton John Stand honors the music legend who’s now the Club’s Honorary President for Life while the Graham Taylor stand recognizes the Club’s greatest ever manager. The Ann Swanson Family Stand, honoring a long-time staff member, demonstrates the value that the Club places on making Vicarage Road a venue where everyone can enjoy a match.

The Club is also exploring an ambitious stadium development project.

1. The new design would increase capacity by more than 30% while optimizing views and adding premium seating.
2. Enhanced hospitality offerings to provide more options for all varieties of budget.
3. An expanded matchday experience featuring added restaurants, family zones, fan zones, and expanded club retail space.
4. A year round gathering place for the community with new green space and family activity areas.
5. The venue would be developed with sustainable practices and plans for a zero carbon footprint.
6. The stadium is designed as multi-purpose, suitable for hosting concerts and other events, providing additional commercial revenue opportunities throughout the year.

The proceeds will be used to fund initiatives to improve the performance of the club’s teams, particularly its first team. Such initiatives would include recruiting and training top players and coaching staff and developing the brand of the club.

The exact plans will be determined by the Board of Directors in its sole discretion.

Watford FC is thrilled to unveil this unique campaign, offering investors the chance to not only own shares, but also to enjoy a range of exclusive perks. These perks are linked to your investment amount in the campaign. 

Important Information

All perks offered by Watford FC in its campaign are subject to availability and any terms and conditions applied by Watford FC. 

All perks are eligible only for the 2024/2025 season, unless otherwise noted. It is Watford’s responsibility to honour such perks. 

Seedrs and Republic disclaim any responsibility for the perks, and any purchasers of shares agree to hold harmless and release Seedrs and Republic from any liability. 

Tokens may be offered to investors at Watford FC’s discretion following this campaign. If tokens are offered, receiving tokens will be optional for any purchasers of shares. Watford FC aims to reward any purchasers using the token functionality with the above-mentioned additional perks, which are intended to enhance the existing perks offered in this campaign rather than replace them.

**Investing is sports teams can carry risks. Some of those risks can be found below** 

Financial Performance:

Revenue Volatility: Sports teams' revenues are subject to fluctuations based on performance, fan engagement, and broader economic conditions. Poor team performance can lead to lower ticket sales, merchandise sales, and broadcasting revenue.

High Operating Costs: Teams often have high fixed costs, including player salaries, stadium maintenance, and other operational expenses. If revenues decline, these costs can quickly erode profits.

Player-related Risks:

Injuries: Key players getting injured can significantly impact a team’s performance and, consequently, its financial results.

Player Contracts and Trades: Poor decisions regarding player contracts or trades can have long-term financial repercussions. Overpaying for underperforming players can strain a team’s budget.

Market and Economic Risks:

Economic Downturns: Economic recessions can reduce disposable income for fans, leading to lower ticket sales and merchandise revenues.

Market Size: Teams in smaller markets may struggle to generate the same level of revenue as those in larger markets due to a smaller fan base and less lucrative local sponsorship deals.

Regulatory and Governance Risks:

League Rules and Regulations: Changes in league regulations, such as salary caps, revenue-sharing agreements, or changes in the collective bargaining agreement, can impact a team’s financial stability and competitiveness.

Ownership Decisions: Poor management decisions by ownership can lead to financial instability and poor team performance.

Reputational Risks:

Scandals: Player or management scandals, legal issues, or ethical breaches can damage a team’s reputation, affecting fan support and sponsorship deals.

Public Relations: Negative publicity related to team performance, management decisions, or other issues can also impact a team’s financial performance.

Stadium and Infrastructure Risks:

Stadium Financing: Building or renovating a stadium is a significant financial undertaking. Cost overruns or financing issues can burden the team with debt.

Attendance Fluctuations: Factors such as team performance, weather, and broader economic conditions can affect game attendance, impacting revenue from ticket sales, concessions, and merchandise.

Broadcasting and Media Rights:

Broadcasting Contracts: The value of broadcasting rights can fluctuate. Changes in media consumption habits, such as the shift from traditional TV to streaming services, can impact revenue from broadcasting deals.

Market Penetration: The ability to secure lucrative broadcasting deals is often tied to the team’s market size and fan base.

Competitive Risks:

Performance Cycles: Sports teams go through cycles of competitiveness. Periods of rebuilding or poor performance can reduce fan interest and revenue.

Competition: Both within the league and from other forms of entertainment, competition can impact a team’s market share and financial performance.

**Investing in Soccer Clubs specifically can carry additional risks. Some of those additional risks can be found below**

Financial Volatility: Soccer clubs' financial performance can be highly volatile, influenced by factors such as player transfers, sponsorship deals, and match results. Fluctuations in revenue streams can affect the club's profitability and investment returns.

Player Injuries and Performance: The performance of a soccer club heavily depends on its players. Injuries to key players or a decline in their performance can negatively impact the team's results, affecting the club's market value and potential revenue streams.

Regulatory Changes: Changes in regulations governing soccer leagues or financial regulations can impact the club's operations and financial stability. For example, changes in league rules, financial fair play regulations, or taxation policies can affect revenue and spending.

Relegation Risk: In leagues with promotion and relegation systems, there's a risk of the club being relegated to a lower division if it performs poorly. Relegation can lead to loss of revenue, decreased fan engagement, and reduced sponsorship opportunities.

Ownership Disputes: Ownership disputes or conflicts among stakeholders can disrupt the club's operations and affect its financial stability. Disagreements over investment decisions, management strategy, or ownership shares can lead to instability and hinder long-term growth.

Market Dependency: Soccer club revenues often heavily rely on factors such as ticket sales, merchandise, and broadcasting rights. Economic downturns or changes in consumer behavior can affect these revenue streams, impacting the club's financial health.

Lack of Success: Failure to achieve sporting success, such as winning titles or qualifying for prestigious tournaments, can result in decreased fan interest, lower sponsorship deals, and reduced commercial opportunities, ultimately affecting the club's financial performance.

Debt Accumulation: Some clubs may accumulate significant debt to finance player transfers, stadium construction, or other investments. High debt levels can lead to financial instability and make the club vulnerable to insolvency or ownership changes.

Political and Social Risks: In some regions, political instability or social unrest can affect soccer clubs directly or indirectly. This could include changes in government policies, fan violence, or societal issues impacting attendance and sponsorship.
Currency Fluctuations: For clubs operating across borders or dealing with international transfers, currency fluctuations can pose a risk. Exchange rate movements can impact transfer fees, player wages, and revenues earned from international sources.

Risks of early stage investment. Not an offer to buy or sell securities. This is a long-term speculative illiquid investment. Investment is not FDIC or SiPC insured. 

Diversification does not guarantee a profit or protect against losses.

Watford Footbal Association Ltd. may use influencers and the parameters of those influencers should be disclosed. 

Investors may be subject to additional fees including but not limited to exchange rates, gas fees, processing charges, and other investment processing payments.

Certain information set forth in this presentation contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company’s current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.

These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.

Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

All broker-dealer related securities activity is conducted by OpenDeal Broker LLC, an affiliate of OpenDeal Inc. and OpenDeal Portal LLC, and a registered broker-dealer, and member of FINRA | SiPC, located at 149 5th Avenue, 10th Floor, New York, NY 10010, please check our background on FINRA’s BrokerCheck. Investments in private companies are particularly risky and may result in total loss of invested capital. Past performance of a security or a company does not guarantee future results or returns. Only investors who understand the risks of early stage investment and who meet the Republic's investment criteria may invest.  Neither OpenDeal Inc., OpenDeal Portal LLC nor OpenDeal Broker LLC verify information provided by companies on this Site and makes no assurance as to the completeness or accuracy of any such information. Additional information about companies fundraising on the Site can be found by searching the EDGAR database, or the offering documentation located on the Site when the offering does not require an EDGAR filing.

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THIS OFFERING IS CONDUCTED PURSUANT TO RULE 506(C) OF REGULATION D PROMULGATED UNDER THE SECURITIES ACT AND IS LIMITED SOLELY TO ACCREDITED INVESTORS AS DEFINED IN REGULATION D UNDER THE SECURITIES ACT. ONLY PERSONS OF ADEQUATE FINANCIAL MEANS WHO HAVE NO NEED FOR PRESENT LIQUIDITY WITH RESPECT TO THIS INVESTMENT SHOULD CONSIDER PURCHASING THE [token name] TOKENS OFFERED HEREBY BECAUSE: (I) AN INVESTMENT IN THE [token name] TOKENS INVOLVES A NUMBER OF SIGNIFICANT RISKS; AND (II) NO MARKET FOR THE [token name] TOKENS CURRENTLY EXISTS, AND EVEN IF ONE WERE TO DEVELOP, THE [token name] TOKENS OFFERED HEREBY ARE SUBJECT TO TRANSFER RESTRICTIONS AS DESCRIBED HEREIN. THIS OFFERING IS INTENDED TO BE AN OFFERING THAT IS EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.

This Offering is limited solely to Purchasers who are “accredited investors” as defined in Regulation D. To be eligible to participate in the Offering, you will be required to represent to the Company in writing that you are an accredited investor and must have provided a third-party certification attesting to such status as required by Rule 506(c). You must also represent in writing that you are (i) purchasing the Subscription Agreements for your own account and not for the account of others and not with a view of reselling or distributing the [token name] Tokens, (ii) not domiciled or a citizen of a country in which cryptocurrency offerings are illegal, and (iii) not from countries which the Office of Foreign Assets Control has deemed a “sanctioned” country.

In order to qualify as an “accredited investor,” a potential Purchaser must meet one of the following conditions of the date on which the Token Purchase Agreement is executed and as of the date of the purchase:

(i) Individual – Income Test. An individual who had an income in excess of $200,000 in each of the two most recent years (or joint income with his or her spouse in excess of $300,000 in each of those years) and has a reasonable expectation of reaching the same income level in the current year;

(ii) Individual – Net-Worth Test. An individual who has a net worth (or joint net worth with his or her spouse) in excess of $1,000,000 (excluding the value of such individual's primary residence);

(iii) IRA or Revocable Company. An Individual Retirement Account (“IRA”) or revocable Company and the individual who established the IRA or each grantor of the Company is an accredited investor on the basis of (i) or (ii) above;

(iv) Self-Directed Pension Plan. A self-directed pension plan and the participant who directed that assets of his or her account be invested in the Partnership is an accredited investor on the basis of (i) or (ii) above and such participant is the only participant whose account is being invested in the Partnership;

(v) Other Pension Plan. A pension plan which is not a self-directed plan and which has total assets in excess of $5,000,000;

(vi) Irrevocable Company. An irrevocable Company which consists of a single Company (a) with total assets in excess of $5,000,000, (b) which was not formed for the specific purpose of investing in the Partnership, and (c) whose purchase is directed by a person who has such knowledge and experience in financial and business matters that he or she is capable of evaluating the merits and risks of the prospective investment;

(vii) Corporations and Other Entities in General. A corporation, partnership, limited liability Company or Massachusetts or similar business Company, that was not formed for the specific purpose of acquiring an interest in the Partnership, and which has total assets in excess of $5,000,000; or

(viii) Entity Owned by Accredited Investors. An entity in which all of the equity owners are accredited investors. OpenDeal Broker LLC is a New York limited liability company. Neither OpenDeal Broker LLC nor Republic Crypto LLC d/b/a Republic Advisory Services (“Republic Advisory Services”) nor any of their affiliates has independently verified any of the information provided or makes any assurances as to the completeness, accuracy or reliability of any such information provided by the Company.