Mr Watt is looking to repurchase Brewdog from US cannabis firm Tilray
James Watt, who co-founded Brewdog before stepping away from the company, has put forward a bid through his newly established venture Second Best Beer to repurchase the collapsed brewery from American cannabis firm Tilray.
The former chief executive has pledged to hand back equity stakes to thousands of supporters who participated in the brand's crowdfunding initiative at no cost.
Addressing his bid on social media, Mr Watt said: "If we succeed, every registered punk gets their Brewdog equity back, for free."
The offer comes after administrators confirmed that investors in the Equity for Punks scheme would not receive any returns following the brewery's sale earlier this year.
The Ellon-based brewery went under owing more than £500million to creditors. A rescue agreement worth £33million was struck with Tilray in March, though the deal came at a high cost to the workforce.
Close to 500 employees lost their positions, while 38 bars across the country were shuttered permanently.
Staff members reported being informed of their redundancies during a 15-minute Teams video call alongside hundreds of their colleagues.
Administrators indicated that the transaction preserved 733 jobs within the business.
However, they confirmed that those who had invested through the Equity for Punks programme would see no financial return on their stakes.
Ms Watt has committed to reinstating the Real Living Wage, which Brewdog abandoned in 2024 citing "unprecedented challenges" facing the hospitality sector.
At that time, the wage stood at £12 hourly, rising to £13.15 in the capital. The entrepreneur also vowed to restore equity stakes for staff members and return community ownership to the centre of operations.
Mr Watt added: "We'd also restore the Real Living Wage, bring back the team's equity, and put the community back at the heart of the business."
"The punks and the crew built this company and BrewDog deserves to belong to them once more." The Equity for Punks crowdfunding scheme, which Brewdog launched in-house, is thought to have generated upwards of £75million between 2009 and 2021.
The initiative promised beer enthusiasts the opportunity to own part of the brewery and benefit from its expansion, funding the company's push into overseas markets.
Mr Watt departed from his role as chief executive in 2024 following a string of controversies, including claims of inappropriate conduct and misuse of power made by former staff. He officially stepped down as a director in March this year.
"Equity Punks, you backed me once. This time, I'm backing you. Hopefully, we can bring Brewdog home," Mr Watt shared.
