- Fan-owned SPFL club aims to raise £100,000 in four weeks to help underpin blueprint for the future
- Investment will support club and the wider community, volunteer directors say as new Club 1942 is unveiled
Annan Athletic has launched an ambitious new community share offer – with the aim of raising £100,000 in the next month.
The fan-owned Scottish League One football club is offering supporters the chance to buy shares in blocks of £5,000 between now and March 22 as part of ongoing work to strengthen its financial stability.
It is the biggest single revenue-raising drive since the Galanbank side became a community benefit society in 2017.
Chairman Russell Brown said: “Our fans are the beating heart of Annan Athletic. They are the owners and custodians of our club. The board, management and players are grateful for their tremendous support, in every possible way.
“This exciting community share offer creates an opportunity for those who wish to invest further in the club – and the wider community – by helping us build a solid base from which our future sustainability and success can develop.”
The cash injection will provide the financial foundation for a new strategic blueprint that will not only drive the club’s ambitions to progress on the pitch, but off it too.
That business plan includes supporting its SPFL squad to challenge for promotion, as well as helping the club’s associated women’s, youth, junior, walking and wider inclusive football programmes, along with other community-focussed health and wellbeing initiatives.
Upgrades at Galabank are also planned – including improved parking at the north end of the ground, installing solar panels to make its power supply self-sufficient, expanding changing facilities, improving spectator areas and creating a fan zone to enhance the matchday experience.
The new initiative will not change the club’s one member, one vote shareholder governance structure.
Community share offer investors will, however, be granted Life Member status and become part of Club 1942, a new group – named in honour of the year the Black-and-Golds were founded – which will recognise their contribution.
The offer was opened and unveiled to fans as Annan prepared to host Alloa Athletic.
Brown said: “It’s no secret that football clubs up and down the country are grappling with financial challenges. Annan Athletic is no different. It’s difficult and we have to manage our budget very carefully. But this share offer will provide us with further stability.
“We want to build on our historic success of securing League One status by progressing further as an SPFL club on the pitch – as well as growing our wider work and ambitions to improve lives through football.”
Club secretary Susan Bryson added: “Investing in Annan Athletic means investing in something bigger than a football club. It means supporting a community hub, which we hope makes a real difference to the people of our town and the wider area.
“As volunteers on the board, we want to build that community benefit – and the enjoyment that being part of the club brings to so many people, in so many ways.
“We’d encourage anyone interested in finding out more to get in-touch.”
Potential investors can purchase up to a maximum of four community share offer blocks of £5,000 with the option to pay up-front or via an agreed payment plan.
On top of the community share offer, fans can still become shareholders in Annan Athletic with a £1 stake and a £10-a-year annual payment. Regular shareholders have – and will remain to have – the same voting and general membership rights as community share offer investors.
More information about investing in the club’s future – including the share offer prospectus – can be found at www.annanathleticfc.com or by emailing [email protected].
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