English Eighth-Tier Club Darlington FC Uses Crowdfunding For Financial Comeback
English eighth-tier side Darlington FC, one of England's oldest football clubs, "is staging a financial comeback, allbeit on a small scale," according to Paul Nicholson of INSIDE WORLD FOOTBALL. The club "has introduced a 'crowdfunding' initiative" to raise an initial £50,000 ($83,000) with further targets of £150,000 ($249,000) as the next steps. The crowdfunding model "has been organized by Glasgow-based investment firm Squareknot," which is running a similar scheme at East Fife FC in Scotland and believes the model "is applicable to a number of clubs." Already £26,000 ($43,000) "has been raised from 16 investors." Under the scheme, fans and members of the community "have been asked to invest by crowdfunding, direct investment or through the DFC Development Fund." Investors "receive shares in the club along with a range of benefits including season tickets, hospitality packages and club merchandise" (INSIDE WORLD FOOTBALL, 1/28). A County Durham-based industrial roofing contractor has joined the ranks of the growing business contingent prepared to back the Quakers. Alderclad Ltd. based in Seaham, through one of its owners, Anthony Nevison, has pledged a sum of money to the football club to help ensure its financial stability and to invest in the return to its home town (Darlington FC).