This Thursday: FC United holds meeting on new stadium
Article published: Wednesday, September 22nd 2010
Football Club United of Manchester has organised a public meeting to discuss its new Community Share offer and plans for its new stadium on Thursday 23 September.
The event will be held at 7pm at the Methodist Central Hall, Oldham Street in Manchester City Centre’s Northern Quarter. It will consist of a presentation and question and answer session on the latest developments.
Launched earlier this week, community shares are hoped to raise £1.5 million towards of the cost of building a 5,000-capacity stadium in Newton Heath. The offer will run until 30 November 2010.
In addition to securing a home ground of its own the fan-owned club intends for the new stadium to include facilities for use by the local community such as function rooms, a classroom and a 3G artificial football pitch.
FC United has constitutional obligations towards community development and its volunteers run school holiday activities at Briscoe Lane Primary School, Newton Heath, in addition to its other community work across Greater Manchester.
The shares are only open to members and can be bought for a minimum price of £200 and a maximum price of £20,000. Purchases of shares do not confer extra voting rights and FC United will retain its one-member one-vote structure.
Shares are non-transferrable, although investors can receive interest payments and withdraw their shares four years after purchase (subject to the discretion of the management board and the club’s commitments to community work).
Club general manager Andy Walsh told reporters that “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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