Fans celebrate as FC United stadium moves one step closer

Article published: Friday, March 16th 2012

Plans for fan-owned football club FC United’s new stadium moved one step closer today after supporters achieved their £1.6 million “community shares” funding target.

Construction of the 5,000 capacity “community stadium” in Moston, north Manchester is likely to start in the spring according to the club, once remaining grant funding for the £4.6 million development is unlocked and final legal documents are signed off.

The community share scheme, supported by Co-Operatives UK, saw 1,400 supporters among the clubs 3,500 members invest a minimum of £200 shares each in the development. In contrast to commercial schemes the shares do not confer any extra voting rights in the control of the club, which is run according to one-member-one-vote.

FC United expects that members will eventually receive interest on the shares, which can be withdrawn but not sold on to other buyers.

Since the foundation of the club in protest against the 2005 Glazer buyout of Manchester United supporters have lacked a home ground of their own, forced instead to rely on renting Bury FC’s Gigg Lane stadium.

Planning approval was granted last October, although in the face of significant controversy. Opponents objected to development on Moston’s greenspace and the potential for increased anti-social behaviour in the area, and further criticised the offer of a potential £500,000 loan by Manchester City Council to the club to complete the stadium at a time of service cuts.

The club argues it has a strong track record of good behaviour by fans, with no major incidents of public disorder at any of the club’s home games in the six years of their existence, and says it will provide sporting and other facilities at the stadium for use by local community groups subject to consultation over the coming months. At the time of approval for the development opinion in Moston was split, with roughly 2,000 residents objecting and 2,000 residents in favour.

In a statement issued today FC United general chairman Andy Walsh said: “Reaching our £1.6m target from the share issue is a fantastic achievement, especially in the current economic climate. We believe this is the largest amount ever raised by football supporters independently.”

The community share scheme has also attracted attention among other football clubs as an alternative means of finance, with a Premier League team among those interested according to an FC United spokesperson.

Walsh argued the shares provide a useful way of raising funds while avoiding the corporatisation of the game FC United was founded in protest against, saying “community shares give a tangible way for fans to raise significant sums of money whilst preserving the football club as a community asset.

“We believe community shares are a preferable way of raising finance to borrowing from banks and more sustainable than relying on wealthy individuals who may not always have the best interest of the club at heart.”

In addition to the £1.6 million raised by the shares FC United has also secured £550,000 in grant funding from Manchester City Council, £250,000 raised from a development fund and £300,000 in other grants. The club is expecting to hear on a decision on a further £1.4 million from Sport England and the Football Foundation by the end of the month, with the council is likely to loan the further £500,000 to take the total up to the required £4.6 million if no other sources of funding are secured.

Richard Goulding

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Comments

1. I have met people at a Friends’ Meeting Ho. meeting who tell me this stadium has split the local Labour party with an Indep. Labour candidate standing against the party machine. Their argument was to preserve the local green belt and community rather than swallow the Labour Leader’s line which they saw as opposed by locals. Following this they alleged was felt to be obligatory if one wants to clime the greasy pole of a Labour Political Career. Hmmmmmm.

   Comment by Steph. Pennells on April 18, 2012 at 12:02 am

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