FC United Community Shares Scheme - Still Open!
Now We Are the Builders!
On November 18th the build started on our stadium and community facilities in Moston. It was a momentous event after a long road - but we still need to raise more in community shares for the project.
FC United’s Community Share scheme is a unique means by which the club is raising money to build the stadium and community facilities in Moston.
The scheme has been a tremendous success to date, with around 1400 people raising £1.8m towards our facility costs. And it qualifies for EIS tax relief (see Benefits).
FC United’s Community Shares have been a trailblazer for football – allowing capital investment without altering the on-member-one-vote structure of the club.
There is a full update of key financial information – including a revised business plan and cost and funding plan. For ease, we have combined this with the Offer Document which you can download here.
Current Scheme Status
The scheme is live and Community Shares money is now being used to help pay for the build. Anyone who bought shares in the first phase will have received their share certificates. However, the scheme remains open and we encourage all those – existing shareholders and new ones - to be part of something really special.
Target - £2m!
Although we have raised the money required for the project to start, we still need to raise more in Community Shares. The board have set a minimum target of £1.9m but we think we can together get to £2m by this summer which will really help us deliver a fantastic scheme and minimise borrowing requirements.
We need your continued support
If you already have bought community shares, please see if you can add to that share holding. If you haven’t bought community shares to date, be part of something truly ground breaking. Remember: the scheme qualifies for EIS tax relief so you could claim up to 30% of what you put in back against your tax.
What do you need to do?
1. Update and Offer Document
- You need to read the new Update and Offer Document which you can download here.
2. How to Buy Shares
i) Use the application form in the Updated Offer document or download the application form from here
ii) If you have already bought shares before, please mark the form where it asks you to.
iii) Send your application form to:
- Community Shares FC United of Manchester, Hope Mills, Pollard St, Manchester M4 7JB
iv) Pay by cheque or bank transfer:
- Cheques should be made payable to FC United of Manchester. Please write your membership number on the back of the cheque.
- Payment can be made by a bank transfer to the FC United Ground Project account the details for which are: Sort Code: 08-60-01, Bank Account Number: 20310466. Please quote your name and reference CSST2 so that your payment can easily be linked to your application for shares.
v) If you would like to pay by instalments, please contact the club – email@example.com.
The main scheme benefit is that you help FC United develop its own facility and deliver real and lasting benefits to Moston and North Manchester.
However, our share scheme has advanced approval from the HMRC’s Enterprise Investment scheme. This means that you could receive 30% of what you put in back against your tax.
4. Share Scheme Key Points
- Participants must be members of FC United of Manchester. If you are not a member you can join on application/li>
- Minimum share purchase for new purchasers - £200
- Maximum share purchase £20,000
- Existing shareholders – no minimum!
- Up to 30% tax relief possible under HMRC Enterprise Investment Scheme
- No withdrawals in the first three years of the scheme
- No interest payments in the first three years of the scheme
- Maximum withdrawal from the scheme of 10% of total share capital in any one year following year three
- Potential interest payments of up to 2% above base rate from Year 4
Documents to Download:
Offer Document and Updated Information (Feb 2014)
Application form (Feb 2014)
Business and Community Use Plan (Dec 2011)