Scottish League One club East Fife have become the first football club in the UK to use crowdfunding in order improve their facilities.
The Fifers released a statement saying that they are looking for small sums from their supporters to raise up to £100,000 to fund the development of a club shop, a bar/café facility and a new 750-seat stand.
The first week of this action, which is being looked after by Glasgow-based crowdfunding company Squareknot, saw East Fife bring in £10,000 as fans are asked to invest in one or more of the three individual development projects.
Club shares are up for grabs while season tickets, hospitality packages with access to players and the directors' box and club merchandise are other benefits to those wanting to get involved.
Local businessman Lee Murray, who took over as chairman of the club last June, said: "The club is operating within a tightly controlled financial budget, and does not utilise any bank overdraft or loan facilities.
"Although the club is operating within its financial means, there is little scope within the budget for capital spend on stadium enhancements and the directors do not believe that incurring significant levels of debt to fund capital projects is the correct approach for the club to take.
"The model of crowdfunding offered by Squareknot allows us to improve the quality of our facilities and the fan's experience without exposing the club to unnecessary risk."
Rewards for investors are as follows:
£100 or more = 1 Ordinary Share in East Fife FC Limited, East Fife football top signed by a player
£250 or more = 1 Ordinary Share in East Fife FC Limited, East Fife football top signed by a player, 4 match tickets for a home match
£500 or more = 1 Ordinary Share in East Fife FC Limited, East Fife football top signed by a player, 4 match hospitality tickets for a home match
£1000 or more = 1 Ordinary Share in East Fife FC Limited, East Fife football top signed by a player, 4 match hospitality tickets for a home match, a season ticket for the 2014/15 season
- In addition, the first 10 people to pledge £250 or more will have the opportunity to meet the players before a match, enjoy pre-match refreshments, and watch the game from the comfort of the Directors Box.
- There are limited numbers of each reward available and match ticket and hospitality rewards are subject to availability.
