Browne Jacobson has advised AFC Wimbledon on raising £14m for the development of the Club’s new Stadium at Plough Lane.
£7.5m has been raised from thousands of fans by a Seedrs enabled crowdfunding and the issue of the Plough Lane Bond.
The Club has also secured £2.5m investment from Wimbledon fan, Nick Robertson, co-founder of ASOS, and an 18 month £4m bridging facility from MSP capital, a property finance firm with experience in the funding of football clubs.
Joe Palmer, Chief Executive of AFC Wimbledon, said:
“This is a triumph for absolutely everybody at our club, and – of course – for the thousands of our fans who raised over £7.5million via the Plough Lane Bond and crowdfunding campaign.
“I’m also immensely grateful to MSP Capital, who listened to our story – stayed at the table in an uncertain economic climate – and were then prepared to help turn our dream into a reality. They have experience of supporting football clubs, and I am certain they were impressed by the sheer professionalism of our team.
“Equally, I would also like to place on record my appreciation of our loan broker, CreditSquare, and our lawyers, Browne Jacobson LLP, for their continued assistance throughout this process.”
Corporate finance partner Mike Jackson, said :
“We are delighted to have advised the club throughout its fundraising and that the stadium project now has the funding it needs to reach completion. Most importantly, hats off to all the AFC Wimbledon fans for their impressive support throughout to bring their club back home to Plough Lane.”
Mark Davis, Chair of the Dons Trust and of the Stadium Committee, added: “This is an important milestone for us in bringing the stadium project to a conclusion, and one that we’ve all been waiting for, for quite a while. My thanks go to Tom, Edward and Stadium Committee colleagues for bringing this across the line. I look forward to Wimbledon fans being able to go and watch football in our new stadium very soon.”
Paul Hill, Mark Lewis, James Busby and Tyler Isaac advised on the bridging loan from MSP Capital.