Lincoln City are edging closer to the £2.3 million expansion of the iconic Stacey West Stand at the LNER Stadium.
The Red Imps Community Trust teamed up with Lincoln City in September to launch the Stacey West Investment Bond (SWIB).
The bond allows investors to help fund the development with an option to choose an interest rate of up to 3% and terms of up to 10 years.
With £1.8 million already raised through grants, the SWIB will help to raise the final £500,000.
The total raised so far has already surpassed £325,000 and is expected to rise further in the coming weeks.
Red Imps Community Trust director, Rob Bradley, believes that the new stand will not only benefit the club but the community as well.
He said: “The stand will look really good, make the ground look bigger, and it will hold more supporters which will add to the atmosphere at games.
“Underneath, it will accommodate the Lincoln City Foundation which is tasked to carry out community actions around the football ground and much wider afield. The new accommodation will help them do it better and hopefully expand them so it’s an exciting project all-round.”
Mr. Bradley also feels that the bond is a great way for supporters to establish a closer connection to the club by directly helping towards the development of the ground.
He added: “It’s a good business proposition that supporters can get involved in. Lincoln is a very inclusive club and like to include the fans in what they do, this was another great example of that.”
Lincoln City’s CEO, Liam Scully, said: “We’ve had all sorts of people invest, some with significant amounts. It has been really pleasing to see supporters pool together to launch their own crowdfunding initiatives on top of this.
“All of this was totally organic and shows just how invested our fans are in the development of the club.”
For more details about the project, visit the Stacey West Investment Bond website.
