Deadline looms for buying AFC Telford shares
A scheme offering fans the chance to buy shares in AFC Telford United was set to close today.
Supporters had until 1pm to buy into the scheme.
The club, based at the New Bucks Head, has been allowing fans to buy shares, with each person able to maximum of 1,000 shares at a cost of £100 a piece.
A total of 500,000 shares were made available.
The offer has meant shareholders relinquishing the controlling stake in the club.
In 2004, when AFC Telford United were established, 1,000 members each purchased a nominal £1 stake in the club.
That meant that if an investor were to plough money into the club, they would still only be eligible for a single share in the club worth £1.
But the vote to change the business model, taken at the Learning Centre at the ground in Wellington, lifted the barrier to investment in the club, while also effectively inviting would-be investors to take over the club.
The share scheme was launched in an effort to alleviate financial concerns at the National League North club.
AFC Telford United had previously revealed that they needed to raise £25,000 by the end of October and the same figure by the end of November to stabilise the club's finances.
