AFC Wimbledon is seeking to raise £7m (€7.9m/$8.9m) through crowdfunding to support the increased costs of its new Plough Lane stadium, which is expected to cost a total of £25m.
The third-tier League One club is hoping to bring in £13m from outside sources to help pay for the new 11,000-capacity venue that will replace Kingsmeadow as its home ground.
The club claims the price has shot up from between £3m and £7m in 2015 to the current outside cost of £13m due to an improved stadium design that will make it “sustainable,” delays, and unforeseen costs such as additional earthworks and the need to strengthen the West Stand structure.
AFC Wimbledon is issuing more shares in AFCW PLC, which owns the club, while still retaining the Dons Trust’s 75-per-cent controlling stake.
The club has teamed up with crowdfunding platform Seedrs to open it up to the public, not just its current fanbase. The minimum investment is set at £10, which will make the payee a part-owner of the League One club.
AFC Wimbledon supporters and Dons Trust members will be given the first opportunity to invest before it is opened up to the public.
If the initiative does not prove fruitful enough to hit the £13m target, the club said: “The dream we’ve all been working so hard for – now so close to reality – could be seriously jeopardised. Our future is in your hands.”
Image: Galliard Homes
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