BY RICHARD CAWLEY
AFC Wimbledon have provided more detail on their crowdfunding plans – with the aim of raising £7million.
The Dons are looking to hit a figure of £13m to cover the cost of their new stadium in Plough Lane but a significant chunk of that will be a bank loan.
If club say if they borrowed the full amount then the repayments and interest charged could stop them having a competitive playing budget.
Rules mean only £7m can be raised via crowdfunding with the aim that the Dons Trust still retain a 75 per cent stake in the League One club.
Back in 2015 AFC Wimbledon expected to need to raise an extra £3m-£7m and claim that delays, unforeseen costs and changes to the stadium design.
The club are working with crowdfunding platform Seedrs. They also say they are in discussions with people who may invest substantial amounts but are also willing to accept the fact the Dons remain fan-owned.
Wimbledon say their target is the equivalent of each current season ticket holder paying £2,300 or £300 from the 23,000 fans who attended the League Two play-off final win at Wembley.
If the Dons are unable to hit their financial goal then they could rein in some of their plans – saying that £10m would build the “bare minimum”.
In a FAQ story on their website, the club answer what happens if they don’t hit any of their targets.
They respond: “Quite frankly, the dream we’ve all been working so hard for – now so close to reality – could be seriously jeopardised. Our future is in your hands.”
Before the crowdfunding project is opened to the public, there ia be an exclusive week when it’s only available for fans and Dons Trust members. To enter this private stage, pre-register now via the website: dons.seedrs.com