Supporters Direct supports FC United's re-launched Community Shares scheme

 Source: Supporters Direct

 FC United have re-launched their landmark Community Share Scheme for the development of their stadium and community facilities in Moston, North Manchester.

The scheme allows people to buy community shares to support the project without affecting the one member one vote structure of the club. The scheme has had advance approval to qualify for the Enterprise Investment Scheme, which means that you could earn 30% tax rebate (subject to personal circumstances) on investmnents of over £500.

To see the Offer Document, and further details about the project, please go to: www.fc-utd.co.uk/communityshares

FC United are seeking to raise £1.6m out of the total project cost of £4.5m from Community Shares, the first football club to do so and a model that Supporters Direct hopes other clubs will follow.

Tom Hall, Supporters Direct Head of Policy and Development, described the project as "a ground-breaking initiative. The use of Community Shares allows supporter owned clubs not only raise funds and improve their facilities, but to have a real impact on the communities that they serve. Supporters Direct have advocated their use in our 2011 development briefing papers, and we have also recently received funding to deliver nine Community Shares projects over the next two years. We fully support FC United's Moston scheme, and would urge all those who can to get behind it."

Multiple Minithons a success from Manchester to Dubai via Merthyr Tydfil

 Source: Supporters Direct

 150 FC United, Rochdale Hornets and Mancunians RL supporters and players swarmed through Chorlton Meadows in Manchester for the 3rd FC United of Manchester Minithon.

They were joined in Wales 60 running at the Merthyr Town version, and in South West London by 80 at the event run by AFC Wimbledon, both of whom sent their thanks to FC United for getting them involved.

Others participated in Brighton, Dubai, Los Angeles, Boston and Sidney.

For more pics from the day, head over to Andy Barker's excellent FC United Photography site.

Prime Minister backs supporter-owned clubs

 Source: Supporters Direct 

 Whilst the world of sport waited anxiously for the outcome of the Comprehensive Spending Review, one group of sports fans got a boost in Parliament yesterday when the Prime Minister backed their bid to reform their club as a co-operative...

Whilst the world of sport waited anxiously for the outcome of the Comprehensive Spending Review, one group of sports fans got a boost in Parliament yesterday when the Prime Minister backed their bid to reform their club as a co-operative.

Ilkeston Town was wound-up last month and its assets - including the stadium- passed into the hands of the liquidator for disposal. A group of fans will be submitting a bid to the liquidator and Erewash Council to reform the club as a co-operative owned by its community.

Erewash MP Jessica Lee asked David Cameron at Prime Minister's Questions whether he backed their bid, to which the PM replied that he thought having a club "owned by its supporters is a very positive move"

The fans are being advised by Supporters Direct, whose Chief Executive Dave Boyle said:

    "The PM's support is no surprise given the Coalition's pledge in their agreement to help fans run clubs via co-operatives. In many ways, a football club being run by a mix of volunteers and professionals through a community co-operative is the Big Society in action."

Notes to Editors:

· The exchange came in Prime Minister's Questions today (20/10/10):(Hansard link)

    Jessica Lee MP (Erewash): "Will the PM join with me in backing the supporters of Ilkeston Town Football Club in my constituency, who are working hard to put together a bid to save the club. If successful, that will be the first supporter owned Football club under the new coalition government, and a real asset for us in Erewash".

    David Cameron: "I think the Honourable Lady makes a good point. Many of the Honourable Members will have football clubs in their constituencies that sometimes do struggle financially, and I think seeing one owned by its supporters is a very positive move."

· The Coalition Agreement states that "We will encourage the reform of football governance rules to support the co-operative ownership of football clubs by supporters"

Co-operatively Owned Football Club Set To Launch Community Share Offer

Source: Supporters Direct

The FC United of Manchester Ten Acres Lane Community Share offer is due to be ready for publication this month.

The co-operatively owned football club was created in 2005 by several thousand disenfranchised Manchester United fans who wanted football to be brought back to the community.

It is looking to raise the estimated £3.5 million required to construct its new community stadium at Ten Acres Lane in Newton Heath from a number of sources. The Community Share scheme is targeted to raise £1.5 million of the required amount.

The scheme presents an exciting and more efficient alternative to bank borrowing. FC United is one of only ten projects being supported by Co-operatives UK and central government through the Community Share Scheme designed to enable cooperative organisations like FC United to raise finance from its communities to support expansion and development much more effectively than through traditional methods such as bank borrowing.

The club is working to ensure that the shares are eligible for the Enterprise Investment Scheme (EIS) tax relief, which means that an investor may be able to offset up to 20% of investments over £500 against income tax liability.

Only club members will be able to buy Community Shares and therefore anyone who wishes to join the scheme will first need to be a member of the club (at a current annual cost of £12.00).

It is important to note that Community Shares will not carry any additional voting rights but that all those buying into the scheme and becoming members will have a democratic say in the affairs of the club; FC United will retain its one member one vote structure.
FC United is unique at its level of English football in having the club's obligations to its fan communities and local communities written into the Club Objects.

The club was awarded Cooperative UK's Cooperative Excellence Award in 2009 for its cutting edge work with local communities.

FC United seeks to change the way that football is owned and run, putting supporters at the heart of everything. It aims to show, by example, how this can work in practice by creating a sustainable, successful, fan-owned, democratic football club that creates real and lasting benefits to its members and local communities.

The FC United board has drawn up a business plan for Ten Acres Lane, which details how the new ground will operate for the benefit of both the club and the community of Newton Heath and East Manchester. The business plan shows how the site will generate enough revenue to enable the club to reinvest in itself, extend its community work and to set aside sufficient funds to cover the cost of possible interest payments and any withdrawals from the Community Share Scheme.

Further details of the scheme will be sent out and published on the club's website  www.fc-utd.co.uk closer to the launch date.

SD Cup - 25 July

This year’s fixture between AFC Wimbledon and FC United of Manchester on 25 July at the Cherry Red Records Fans Stadium – Kingsmeadow will be for the Supporters Direct Cup.

And SD and both clubs are making it an afternoon of fun, not just for the fans of both clubs, but for all supporters’ trusts.

Keep an eye out on the Supporters Direct website for more details in the run-up to the day.