New contact information for the Club will be published in due course. New road sign on the approach to the site of our new stadium. There would be no conference or banqueting suites, our main bar and fans’ zone wouldn’t be built and we would be unable to expand our club shop. If so, where are any minutes from when this was discussed and why was it ruled out? The funds paid by investors to Seedrs as part of the crowd funding will be held by Seedrs until the construction contract with Buckingham is signed.”.Q: Please can you provide a detailed breakdown of the additional £10m of works that are required for the full phase one version of the stadium.The above costs include not only the work that Buckingham have already performed but also historic costs associated with the development of previous designs and planning, etc. And on what terms?A: This is still a matter for negotiation but, if all the current group come on board, it will total somewhere in the region of £7.5 million. Such investors want a say in how the company is run; they focus carefully on considerations such as valuation and governance. First, they are uncomfortable that the Dons Trust can automatically block AFCW PLC from issuing additional share capital without going through a cumbersome ‘Restricted Action’ voting process.The need to issue additional share capital could arise (and arise quickly) if, for example, there is a shortfall in the business plan and money needs to be injected in order to meet our commitments to lenders or other creditors. He will be taking a 10% stake and invested on terms that leave the Dons Trust in control. We are still ironing out details with Buckingham but, as an indication, the current proposal would likely mean:Q: If a rudimentary stadium was developed, what are your projections for our annual playing budget, and how does that compare with our current playing budget and those that we had when we were in League Two?A: We do not yet have a proposed budget for this scenario but, if the basic stadium looks something like Kingsmeadow with fewer facilities, then the playing budget will be substantially worse than the budgets we had in League Two.
These were not issues the crowdfunding campaign could embrace in detail.Q: What specific aspects of the way in which the club is currently run do the prospective external investors dislike?A: We believe the investors admire what AFC Wimbledon has achieved over the years, as a fan-owned club. For starters, we don’t know when the new season will begin – or, more importantly, when our fans will be allowed to see games at our new home.“But at least we’ve overcome one of the biggest obstacles and our road to Plough Lane is clear and open. It would not, however, be able to veto the share issue from proceeding in order to avoid its own overall stake in the club becoming diluted.
As stated above, however, we do not want to reveal their identities or backgrounds until this issue has been fully debated by our membership.Q: What is the level of ownership that they require, and what is it ownership of?A: We are still negotiating the valuation for their investment, so it is too early and confidential to say. Media caption Wimbledon suffer new stadium setback. Indeed, our broker has gone out to test that proposition in the market at various points during the development of the project. The proposal is subject to a valuation of the stadium and further due diligence by the lender, and we ourselves need to conduct due diligence into the lender (a non-UK company that is not a bank).Q: Have the FCB and DTB consulted with fans and interested parties who work in finance about other routes to supply the 11 million (or part thereof) through funding and financing routes that don’t resemble standard mortgage or debt financing routes?
Why did they decide to go down the Seedrs route rather than a community share issue? We know of at least one fan who approached the club with a proposal along these lines who has never had a meeting so we would like to know what avenues have been explored here and can be explored urgently now?A: Our fans have been really helpful throughout this project, offering invaluable advice about planning, legal services, construction, etc. When that is done, the Trust’s Stadium Oversight Team can complete its plans to consult fans and members, initially about the design (which is still being worked on) and then later in 2019 the match day experience.We recently reported that the club had taken ownership of the freehold to land at Plough Lane earmarked for a new stadium and here are the latest pictures from the site.A gentle slope to a shallow end will suit their football...AFC Wimbledon expect to start building their new stadium at Plough Lane in April or May.9,000 capacity stadium that can be expanded to 20,000 by connecting all four corners?