English League Two soccer club Stevenage FC has turned to supporters to help fund a new North Stand at Broadhall Way.
The club has secured £450,000 (US$587,800) from the UK’s Football Foundation toward redevelopment of the stand, but has put out a call to fans to provide an additional £500,000 (US$652,900) in revenue. The money will be used to replace the existing terrace with a 1,600-seat, all-seater modern stand.
“I want to do this together with the fans and the community, standing shoulder to shoulder for Stevenage,” said club chairman Phil Wallace in a team statement. “Stevenage is a community club and it’s important we keep it that way; that’s why we’re offering fans and the local community the chance to invest in the club, to help us grow but also get a benefit from their investment.
“Doing it this way means there is a financial benefit to the people who invest as well as there being emotional reasons to support the club they love. And in addition, fans will be able to enjoy the new stand with great facilities for all.”
The investment will take the form of a five-year mini-bond, which will pay out to all investors, and return their original contribution at the end of the project. The first phase of the North Stand project will comprise 1,600 supporter seats, stairs, concourses, entrance ways and all necessary safety features. It will also include toilet facilities and some food and drink provision.
July 19, 2017
