Posted on 10th February 2020
This Saturday marks the long awaited return of Bury FC to Gigg Lane – four years since mismanagement by their previous owner saw them kicked out of the EFL in August 2019.
FSA invests £5,000 in Plough Lane Bond
The Football Supporters’ Association will invest £5,000 in AFC Wimbledon’s Plough Lane Bond which was launched to help the supporter-owned club to return home.
The bond is administered and run by FSA affiliates the Dons Trust. It was formally launched on Wednesday 5th February and the FSA Board met the following day and agreed the loan.
Since forming in 2002 AFC Wimbledon have been fan-owned by the Dons Trust and they believe the bond is the best mechanism to raise funds for the Plough Lane stadium construction project and keep the club under majority fan ownership.
“This is absolutely fantastic news and we are delighted to have the support of the FSA. Their generous interest-free loan will help us ensure we can finally ‘Bring The Dons Home’,” said Charlie Talbot and Xavier Wiggins, who run the Plough Lane bond scheme.
“We are still looking for more loan signings and can provide a return of up to 4% for any supporters or investors who want to back our aims of keeping AFC Wimbledon as a fan-owned example of how clubs can be run as community assets.
“It’s been a crazy few weeks since we launched the bond scheme and we have been blown away by the goodwill we have had from the media and fans of other clubs as well as Wimbledon supporters.”
The initial target for the bond is £5m but will go towards the £11m total funding required to build the new stadium. Investors can elect to lend money over a five, ten or 20-year period with a variable rate of interest from 0% to 4% which is paid annually.
The Bond has now raised more than £3m.
“Supporters across the country will hail AFC Wimbledon’s ambition to return to Plough Lane,” said FSA chief executive Kevin Miles said: “It’s been a monumental effort by fans to build a club from scratch and establish itself in the EFL.
“This move would represent the final step in a 17-year dream that many thought was impossible. The FSA is proud to be able to play its own part in helping that become a reality.”
Construction of the stadium started last year and work is on-going. The new Plough Lane will hold 9,000 supporters. AFC Wimbledon have been based at Kingsmeadow in Kingston-upon-Thames since formation in 2002.
- The Plough Lane Bond scheme aims to raise £5m towards the overall lending required to get the Plough Lane stadium build on time for the 2020-21 season. Bond purchasers can choose their interest rate up to 4% and the minimum investment is £1,000. Capital at risk, full terms and conditions on the website: www.PloughLaneBond.com.
