Watford is selling shares to fans to help fund transfers as it targets a Premier League return. The Championship club, owned by Italian businessman Gino Pozzo, is offering supporters a 10% stake for £175m. Watford's manager Tom Cleverley will use part of the funding to strengthen his playing squad. The club has been exploring investment opportunities and aims to raise £17.5m. Watford was last in the top flight in 2022 and has been promoted and relegated twice under the Pozzo family's ownership. The club has made dozens of transfer deals with Italian club Udinese, also owned by the Pozzo family. Cleverley is the 21st different permanent or interim head coach hired by the Pozzo family at Watford. None of them have lasted two years in the job. Watford's honorary life president, Elton John, bought the club in 1976 and oversaw unprecedented success in the 1980s. The shares will be sold through an online platform with experience in digital equity offerings. Fans can buy shares in pounds or dollars, with no need to purchase via cryptocurrency. Watford warned fans of the risk in investing, stating that it is a high-risk investment and they may lose all their money. The club's statement announcing the shares issue highlighted the importance of funding for recruitment. Watford's aim is to return to the Premier League, and the fan shares sale is a crucial step towards achieving this goal.