AFC Wimbledon hope to raise £7million through crowdfunding to pay for the increased costs of building their new stadium.

The Club hope to raise £13million through a combination of loans and crowdfunding to ensure their move to their new stadium at Plough Lane in Merton goes ahead next summer.

Surviving relegation from League One last season, The Dons have been playing their home games at The Cherry Red Records Stadium since 2002 upon the Club’s foundation but have been eager to move to a bigger venue to support a competitive League One budget.

The £13million aim is considerably more than the initial £3-7million target to be raised to fund the new stadium upon the sale of the ground to Chelsea FC in 2015.

According to the reasons for the increase in funding comes from the ‘evolving’ stadium design, project delays that were ‘out of the club’s control,’ ‘additional earthworks’ and ‘more extensive foundations.’

The crowdfunding will open later this month and will involve the issuing more shares in AFCW PLC, meaning the Dons Trust’s still retain 75% control of the club.

Your Local Guardian:

The Club have acquired the aid of crowdfunding platform Seedrs, the first share-issuing crowdfunding platform to be authorised by the Financial Conduct Authority.

Investors are invited to review investment opportunities like ours on Seedrs’ online platform. Any investor can participate, investing from a minimum of £10.

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