Football club sells shares to raise money for £300,000 clubhouse (From The Advertiser Series)

Spennymoor Town offers fans a chance to invest in the club's future

2:43pm Tuesday 5th February 2013 in News By Ian Noble, Reporter (Shildon and Spennymoor)

A PROMOTION-chasing football club is offering fans a golden opportunity to invest in the team's future.

Officials at Spennymoor Town Football Club are hoping fans will provide extra financial muscle to help build a £300,000 clubhouse.

The Moors, currently lying in second position in the Northern League, need a new clubhouse after the old one was destroyed in a fire nine years ago.

The new building will be the centrepiece of a five year plan to redevelop the Brewery Field ground and win promotion to the Evo-Stik First Division (North).

If it goes ahead the new clubhouse will be a  two storey structure with a club room, function room and covered terrace.

Durham County Council has approved the plan  which could be used by other local sports teams and residents.

Now the club is appealing to fans to invest £300 in the development for a lifetime clubhouse membership.

The scheme will give a ten per cent discount on all drinks and free use of the function room.

Another alternative is to invest £1,000 in the club which will secure a share in the clubhouse. Investors will receive dividends.

Payment plans will be available to spread the financial commitment over four months.

After an initial two year period the club’s operating profits will be split 50-50 between investors and the club.

Investors will get copies of accounts and can attend two yearly shareholders meetings.

Club chairman Brad Groves said: “Every penny of investment now is going directly into funding the new clubhouse.

“The clubhouse is a huge development which will eventually form the backbone of the football club.

“We remain ambitious and want Spennymoor to compete at the highest possible level and to do that we need everyone to really get behind this campaign.”

Helen Goodman, Bishop Auckland MP, will help launch a fundraising campaign at the club on Friday (February 8).

The club has also fitted a £50,000 floodlight system paid for by Spennymoor Town Council and made by Thorn Lighting and fitted by AK Lighting.

Councillor George Tolley, Spennymoor mayor, said: “The ground is coming on in leaps and bounds and we wholeheartedly support the club’s ambitions to win promotion.”

Club director Paul Callaghan, said: “We knew they needed replacing but it’s great to get an improvement up to conference standard.”

Details on the share scheme are available from Mike Rowcroft on 0777-0500-593 and Billy Beasley on 0759-5217-408 or email spennymoortownfc@aol.com.