Kingston’s professional football club AFC Wimbledon has launched an equity crowdfunding campaign on Seedrs to help finance its return to a new stadium on Plough Lane. The organization is offering 7.67% in equity at a £24,071,520 pre-money valuation.
AFC Wimbledon described itself as a continuation of the former Wimbledon Football Club, which no longer exists after the franchising of its league place to Milton Keynes. The team won the FA Cup in 1988 and notably came back “from the dead” in 2002. Now it is looking to come back home to Plough Lane.
“Just 17 years ago, all seemed lost. Wimbledon’s football club, which had represented its community since 1889, was moved lock, stock, barrel and league place to Milton Keynes. But the supporters reformed as a fan-owned club in the ninth tier of English football. In 13 seasons they have been promoted six times and never relegated. But there remained one goal that kept driving the supporters. They wanted to go home. Back to the community where they belonged. Back to Plough Lane.”
AFC Wimbledon also revealed that in 2017, it got the go ahead to build a new stadium just 230 meters from the club’s original ground.
“The aim is to kick off season 2020/21 there – but it’s down to you. By backing the club’s crowdfunding campaign, you can help AFC Wimbledon raise the extra funds it needs to realise the stadium vision.”
While sharing more details about what the Seedrs funds will be used for, the organization stated:
“Expected to be designed & built by two of the leading venue construction companies, the new stadium has the potential to increase commercial revenues for the reasons seen above. We believe that this will help enable the Club to continue to be sustainable as a business. Initially expected to open with 9,000 capacity, it can eventually expand to 20,000 by replacing semi-permanent stands with larger, permanent structures. The main West Stand is planned to have four tiers with media facilities, camera gantries & 12 glass-fronted executive boxes. The players’ tunnel will lead out from the centre of the stand, with the technical areas on either side.”
Since its launch, the campaign has raised more than £1.3 million from over 2100 investors. It is set to close at the beginning of October.
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