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Enfield Town will launch a community share issue next month to raise capital to help the club progress
3:00pm Monday 19th May 2014 in Sport
Enfield Town are launching a Community Share issue in order to raise capital to help ensure their financial future and help the club to achieve its vision of being an inclusive club for all and a social centre for the community.
The launch of the Community Share issue takes place on June 4 at 7.30pm in Butlers Bar at the QEII Stadium.
There will be a number of speakers, including a representative of Supporters Direct, the government-backed umbrella organisation set up to support and assist communities looking to gain influence in the running and ownership of their clubs.
Currently there are more than 30 professional and amateur clubs in England owned and run by their supporters and Enfield Town were one of the first upon their formation in 2001.
Club Chairman Paul Millington said: "We are a very ambitious club, and in order to develop to the next level we must get better value for money from our regular income and running costs. In particular, we must aim to pay for the QEII Stadium bar/café, refinance existing loans and, and put together a capital fund for future projects as quickly as is feasible."
Millington added: "We have been lucky to have had such a dedicated fan base and committed sponsors since our formation in 2001, and have come a long way in a short space of time. But we are ambitious and now want to push the club onto the next level.
"More importantly, we want to be able to develop our teams and facilities and grow the club in a sustainable way. One 2014-15 initiative is a feasibility study into additional bar space. Raising capital through community shares is becoming more common in football, offering a real alternative to the way it is run and financed, with genuine benefits to local communities."
James Mathie of Supporters Direct said: "We think that football clubs like Enfield Town work well being owned collectively by the communities that support them. Enfield Town FC has had great success since reforming in 2001, and with the move to QEII Stadium they have a chance to really build the club in the community.
"The community share issue is a chance to widen the interest in the club and its facilities to ensure the club continues to grow sustainably."
Community Share Schemes have been successful for other clubs such as FC United of Manchester, Wrexham and Portsmouth. Full details of the Enfield Town scheme, which has an initial target of £100,000 and will run for a year, will be unveiled at the launch evening.
Enfield Town have also been shortlisted for the FA Charter Standard Community Club award after scooping the regional award.
The Towners beat off comeptiton from eight other Middlesex sides and are now included on the shortlist for the national award.
National winners will be announced at the FA's Community Awards ceremony, which will be held at Wembley Stadium in August.
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