A crowdfunding campaign designed to raise funds to renovate the North Stand at Broadhall Way, home of English League Two football club Stevenage, has surpassed the £600,000 ($775,000/€650,000) mark after just six weeks.
The club announced in July that it was seeking to raise £500,000 to aid the redevelopment of the stand, having already received a grant of £450,000 from the Football Foundation charity.
Stevenage has now hit its target three weeks ahead of schedule.
The club linked up with sports fan-funding platform Tifosy on the venture and has received donations from more than 200 fans, among them best-selling author Ken Follett.
Supporters invested between £500 and £25,000, opting for either four-per-cent cash interest or eight-per-cent club credit interest per annum. As part of their donation, supporters will receive unique privileges such as having their name engraved on the new stand, taking part in the 2018-19 squad photo, and match-day hospitality packages.
Tifosy said work on the new stand would begin “imminently”. The redevelopment will see the current North Terrace replaced by a modern, 1,600-seat stand in time for the 2018-19 campaign.
Stevenage chairman Phil Wallace said: “We wanted to do this shoulder-to-shoulder for Stevenage, offering fans and the local community the chance to invest in the club to help us grow, but also get a benefit from their investment. There is a financial benefit to the people who invest and fans will be able to enjoy the new stand with great facilities for all.”
Tifosy founder and chief executive Fausto Zanetton added: “This is a transformative moment for the way fans can interact with their clubs. We are unleashing the passion of fans, giving them the chance to invest in clubs they believe in, and giving clubs the opportunity to raise funds deepening their relationship with their fan base.”
Tifosy was founded in 2013 by former Chelsea footballer and manager Gianluca Vialli and Fausto Zanetton, and has since helped raise more than £2.2m.
IMAGE: Stevenage FC