Source: Insider Media
The team behind a new football stadium for FC United of Manchester is hoping the commercial cachet of hosting events there will underpin its use as a community facility.
Spokesman Andy Walker told Insider the club would be a focal point for community use while also functioning as commercial hub for meetings, functions and events.
His comments came as the club signed specific agreements with Manchester City Council relating to its future use by the local community meaning construction work can start this autumn.
Walker said: "The new stadium will have function rooms, offices and a medical room. These will be available for community use and we would look to hire these out for commercial use but there won't be any corporate boxes.
"We hope they will become a hub for community events but that also there is a cachet in hosting events and meetings at a football ground."
Planning permission for the new 5,000-seater stadium in Moston had previously been granted subject to finalising these new deals, known as Section 106 Agreements, before construction work can start.
FC United of Manchester is a supporter-owned club formed by Manchester United fans following the takeover of the latter by the Glazer family in 2005.
The stadium project is expected to cost in the region of £4.6m with just under half to come from donations and shares costing £200 each.
All shareholders in the club will receive one vote in decisions and elections regardless of how much money they have invested.
Further funding is expected to come via grants from bodies such as Sport England and the Football Foundation and the club are hoping to start the 2013/14 season in their new home.
Showing posts with label Insider Media. Show all posts
Showing posts with label Insider Media. Show all posts
Wednesday, July 11, 2012
Tuesday, September 21, 2010
FC United launch £1.5m share issue
Source: Insider Media
FC United of Manchester, the club founded five years ago by Manchester United fans, are today launching a £1.5m community share issue to raise funds for a new £3.5m stadium in Newton Heath.
The 5,000-capacity stadium will be the first permanent home for the club, which currently play home games at Gigg Lane, home to Bury FC. The share issue comes days after a planning application for the Newton Heath stadium was submitted to Manchester City Council. A decision is due in November.
The club hope the share issue will raise £1.5m of the total cost of the stadium, with an equal amount coming from grant funding. They will also raise £500,000 through donations, with £300,000 of that already raised.
The stadium will fall under the club’s "asset lock", a legal agreement that prevents the club’s assets being separated from the club and sold off, and ensures continued community use.
FC United are believed to be the first football club to issue community shares, a means by which community enterprises can raise capital funds. The club operate under a one member one vote system, which will remain unaffected by the share issue.
Andy Walsh, FC United general manager, said: “At a time when many clubs are in debt or in the hands of major investors, we aim to demonstrate that there is a real alternative. We want to change the way football is run and financed by putting supporters at the heart of the game.”
FC United of Manchester, the club founded five years ago by Manchester United fans, are today launching a £1.5m community share issue to raise funds for a new £3.5m stadium in Newton Heath.
The 5,000-capacity stadium will be the first permanent home for the club, which currently play home games at Gigg Lane, home to Bury FC. The share issue comes days after a planning application for the Newton Heath stadium was submitted to Manchester City Council. A decision is due in November.
The club hope the share issue will raise £1.5m of the total cost of the stadium, with an equal amount coming from grant funding. They will also raise £500,000 through donations, with £300,000 of that already raised.
The stadium will fall under the club’s "asset lock", a legal agreement that prevents the club’s assets being separated from the club and sold off, and ensures continued community use.
FC United are believed to be the first football club to issue community shares, a means by which community enterprises can raise capital funds. The club operate under a one member one vote system, which will remain unaffected by the share issue.
Andy Walsh, FC United general manager, said: “At a time when many clubs are in debt or in the hands of major investors, we aim to demonstrate that there is a real alternative. We want to change the way football is run and financed by putting supporters at the heart of the game.”
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