Stevenage FC chairman hails ‘truly incredible’ community response after £500,000 North Stand mini-bond scheme passes halfway mark
- Credit: Archant
Stevenage FC’s chairman has described the response from fans and the town as “truly incredible” after seeing an investment scheme to build a new North Stand pass the halfway mark.
So far £284,000 has now been raised through the League Two football club’s mini-bond scheme – with a £500,000 target set to enable the Lamex Stadium redevelopment to go ahead.
So far more than 125 people have invested, and of those 75 per cent are from SG1 (23 per cent) SG2 (18 per cent) and SG3 (34 per cent) postcodes. The rest is made up of Boro fans from all corners of the country, including Lowestoft, Hull and Portsmouth.
The ‘Shoulder to Shoulder’ campaign – a first for an English Football League club – asks fans and the wider community to invest anything from £500 to £25,000, receiving four per cent interest annually before the investment is paid back in full at the end of the five-year term. There is also an opportunity to earn eight per cent interest in the form of a club credit, which can be spent on merchandise, food and drink in the Broadhall Suite, matchday hospitality packages and more.
Commenting on the amount already raised, Stevenage FC chairman Phil Wallace said: “This demonstrates what a community club Stevenage is. This is an important thing to do and important to do this together, so it is truly incredible to see the way the fans and town have really rallied behind the club in achieving what no other EFL club has.”
Reasons given for investing in the project have included: “It’s an original idea which is effective and incorporates the fans, making the whole project feel more part of the community.”
“We love our club and it is lovely to be involved like this.”
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“It’s a chance to support my club and get a good return on my investment.”
“I along with the club can see the importance of the improvements the North Stand will give both to the club generally and people passing by.”
“I can’t wait to see the new stand built, at last a proper and complete ground.”
Following last week’s successful mini-bond ‘drop-in clinic’, where potential investors can find out more, the club will be hosting another between 10am and 2pm this Friday. If you cannot attend the clinic, held at the club offices behind the Lamex Stadium’s West Stand, you can arrange a more suitable time by emailing firstname.lastname@example.org.
For more on the scheme see tifosy.com/StevenageFC.