Member Article

Football club offers shares to North-East businesses

A Northern League football club is making shares available to North-East businesses as part of an exciting new development.

Spennymoor Town FC is offering companies the chance to buy a piece of a new £300,000 clubhouse, with dividends being offered in return.

The Ebac Northern League first division club, which is hoping to win promotion to the Evo-Stick League this year, was given planning permission last October to build a new clubhouse, which will finally replace a building gutted by fire on Christmas Day 2003.

But £300k is needed to fund the community venue – and Spennymoor need local businesses people to get behind the scheme.

A minimum investment of £1,000 buys a 0.33% share in the clubhouse.

Meanwhile, fans can also invest £300 to become life members of the new development.

Helen Goodman, the Labour MP for Bishop Auckland, has signed up to a life membership for the proposed new clubhouse - and is urging fans and businesses to do the same.

“I think it’s fantastic,” said Mrs Goodman.

“They’ve got a good side here, they’ve got the plans and they’ve got the planning permission, so it’s all systems go.

“The clubhouse isn’t just for the footballl club, it’s for the whole community and everyone in Spennymoor.

“It’ll be a really useful community facility and it’s way better if people can do something they enjoy locally rather than drive 30 miles to do something, so all round it’s win win win!”

Town chairman Brad Groves has already overseen £100,000-worth of ground improvements in recent months.

He said: “The new clubhouse is a huge development and one which will eventually form the backbone of the football club.

“It’s not only important for our fans to get behind this, it’s important for the local people and businesses to support it as well, because this will be a new facility for the whole community in Spennymoor, not just the football club.”

Fans can buy a lifetime membership in the clubhouse for just £300, entitling them to a 10% discount on all drinks and free use of its function room for parties.

The new two-storey clubhouse will then act as a hub for the local community, providing a base not only for the football club and Academy teams, but also a venue for local groups, darts and pool leagues and functions.

A new Limited Company will be created to oversee the building phase and subsequent operation of the business.

Payment plans will be available so firms and businesses can spread their commitment over four months.

After an initial two-year period, the club’s operating profits will be split 50-50 between the football club and investor members, who will get copies of accounts and also be able to attend two shareholders’ meetings a year.

More details and application forms are available from directors Mike Rowcroft on 07770 500593 and Billy Beasley on 07595 217408, or email spennymoortownfc@aol.com

This was posted in Bdaily's Members' News section by Mantis Media .