Watford to sell shares to fans to help fund transfers as it targets Premier League return
WATFORD, England (AP) — English soccer team Watford has offered fans the chance to buy shares in the club in a bid to help sign new players and return to the Premier League.
The second-tier Championship club was last in the top flight in 2022 and was once owned by Elton John.
It is offering supporters the chance to buy a total stake of around 10%, saying the money will partly be used to fund transfers.
Watford said in a statement on Tuesday that it had been exploring investment opportunities and was aiming to raise 17.5 million pounds ($22.4 million).
“Part of the funding will be channeled into recruitment to strengthen (manager) Tom Cleverley’s playing squad as we seek a return to the Premier League,” the club said.
Watford is owned by Italian businessman Gino Pozzo. Elton John, who bought the club in 1976 and oversaw success in the 1980s, is now its honorary life president.
In Watford’s statement announcing the plan to issue shares, it also warned fans of the risk in investing.
“Don’t invest unless you’re prepared to lose all the money you invest,” it said. “This is a high risk investment and you are unlikely to be protected if something goes wrong.”
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