James Watt has formally launched a bid to buy back BrewDog, just months after the Aberdeenshire craft beer giant was sold to American firm Tilray.
Making the offer through his new company, Second Best, Watt confirmed that the brand will become part of BrewDog if the takeover is successful.
He founded Second Best after losing out in an earlier bid to buy back BrewDog, coming out "second best" to Tilray.
Watt claimed he is "personally funding" the bid along with an unnamed partner.
Posting on LinkedIn, Watt said: "We have formally submitted our offer to buy BrewDog.
"The offer was made by Second Best and sent to Tilray Brands. 43,000 Equity Punks have already joined the bid.
"If we succeed, every registered punk gets their BrewDog equity back, for free.
"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.
"Equity Punks, you backed me once. This time, I'm backing you.
"Hopefully, we can bring BrewDog home.
"Equity Punks - if you want to be part of this bid for free register at the Second Best website."
It comes after Irwin Simon, Tilray Brands' Chief Executive, criticised Watt back in March as the American firm looked to begin rebuilding BrewDog following its collapse and rescue.
He told The Telegraph Watt's reputation was a barrier to rebuilding the brand and added: “We don’t need James Watt, because if James Watt were ever to come back here – and I’m being very clear, he’s not – what happens is this becomes about James Watt’s second and third act.”
He said: “It’s a stigma that’s attached to it but it’s a stigma we have to overcome.”