FC United of Manchester to launch “Community Shares” Scheme
Article published: Friday, September 10th 2010
In mid September FC United of Manchester is to launch a new co-operative share scheme through which they aim to raise £1.5 million towards the cost of a new home ground. The plan forms part of a national scheme aimed at raising community investment, and is the latest step in the development of the radical football club.
Owned and democratically run by its 2000 members, the not-for-profit club was formed in 2005 by breakaway Manchester United fans outraged at the leveraged buyout of their club by millionaire Malcolm Glazer. This was perceived by many stalwart supporters as the last straw in the increasing commercialisation of the club and its deteriorating relationship with over-charged fans.
Since it was founded the rebel club has won promotion every year except last season and regularly attracts home crowds of around 2,000 – making it the second-best supported club in non-league football, after fellow breakaway side AFC Wimbledon. Off the pitch, the club is committed to building strong community links and has up to 300 volunteers a year involved in extensive community outreach, including working with children in care and asylum seekers.
Andy Walsh, FC United’s general manager, explained the club’s aims to MULE: “It’s not just talent scouting. We’re using football to engage with the disengaged.”
However five years after its founding the club still does not have a ground to call its own and currently rents Bury FC’s Gigg Lane Stadium. Now FC United plans to construct its own £3.5 million home stadium at Ten Acres Lane in North Manchester’s Newton Heath district. Steeped in history, the location was purposely chosen as it was the original home of Manchester United.
Of the total amount required the club has identified £1.5 million available in grants, while fans have so far raised £300,000 of its £500,000 development fund target. To finance the remaining £1.5 million, FC has been selected as one of ten co-operatives across the country to take part in t
FC playing at their current Gigg Lane home in Bury
he Community Shares Programme, supported by Co-operatives UK and the government.
Under the scheme supporters will be able to purchase community shares for a minimum price of between £250 and £500. Intended as an alternative to bank-borrowing, community shares are restricted to members of the club. They are not a donation and people purchasing them can expect a small rate of return.
Unlike in the private sector, the shares do not bestow extra voting rights and the club retains its democratic one-member-one-vote structure along with its manifesto commitments against commercialisation and violations of its co-operative nature.
Restrictions are in place concerning withdrawal of funds, with no interest for the first three years and a limit of “a maximum withdrawal from the scheme of 10% of total share capital in any one year following year three,” according to the club. This aims at promoting financial stability, thereby advancing the club’s aims of social responsibility and community engagement.
Despite sitting six football leagues below their corporate Premiership neighbours FC United are now seen to be one of the clubs at the vanguard of transforming local communities through the vehicle of football.
Such a wider role for the sport was recognised this summer when Supporters Direct, a government-backed initiative aimed at encouraging mutual and democratic ownership of football clubs, released a report in June investigating the social importance of the sport.
Adam Brown, the author of the report, said: “When we asked supporters what they valued about their clubs, it was not their success on the field, nor the value of the club’s shares, or whether it was for profit or not, but their importance within the family, social and community life that was paramount.”
Put in these terms, the club is showing the way forward and supporters are confident for the future. After a 5-1 home win against Retford FC John Hampson, at the match with his son David, said: “The defence has tightened up since last season…I think we’ve got a bright future. We get our own ground and we won’t look back.” Bury Councillor and FC United fan Alan Quinn called it “football as it’s meant to be played.”
David Simpson, who has followed the club from the beginning gave his vision: “Manchester’s always been a place of revolution and change and this is the way football should be… Now I know what power we have as a fan. We can do whatever we want. I don’t care about the Premiership.”
Richard Goulding
You can find out about FC United of Manchester on their website: http://www.fc-utd.co.uk/
For more information on the Community Shares see the official website: http://www.communityshares.org.uk/
More: Manchester
Comments
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Forget the bullshit Tory rhetoric. This is the “Big Society” in action
Comment by M on September 10, 2010 at 10:25 am -
[…] want to be the FC United of Levenshulme, showing off the talent of local people and getting the community together to […]
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