FC United launch stadium share scheme

21 September 2010 07:40
FC United are launching a pioneering £1.5million community share issue to help fund the cost of their new stadium.[LNB] The EvoStick League Premier Division outfit, launched five years ago following the Glazer family takeover at Old Trafford, have submitted an application to build their own 5,000-capacity ground close to the site at Newton Heath where the club which eventually became Manchester United started their existence.[LNB]FC United estimate gaining access to a sizeable sum through grants and also £500,000 in donations, £300,000 of which has already been received.[LNB]But they intend to raise the remainder through the community share scheme and claim to be the first football club to issue such shares, a means by which community enterprises can raise capital funds.[LNB]"The main aim of the shares is to provide investors with a social return by funding the football and community objectives of FC United, but the club's business plan also provides for potential financial returns for shareholders," said an FC United statement.[LNB]The club believe having their own stadium is the best way to maximise their potential as, while they continue to enjoy impressive attendances - just under 2,000 - for their present level of football, they also have to pay out a hefty rental fee to Bury.[LNB]Gigg Lane has been FC United's home since the club was formed and will host the FA Cup second qualifying round tie against Gainsborough Trinity on Saturday.[LNB]FC United have also been forced to play some matches at Stalybridge this season but now hope "supporters, investors and companies can support the club's development by buying £1 shares from the minimum purchase of £200 up to £20,000."[LNB]Andy Walsh, FC United general manager, said: "FC United has achieved a great deal in the five years since its foundation, despite not having a permanent home.[LNB]"With our own ground and community facilities we can achieve much more, making the club sustainable and fulfilling our ambition to become a beacon showing a better way for football."

Source: Team_Talk