Case Study: FC United of Manchester
Bradford One is forming as a type of company called a Community Benefit Society. This is a special type of co-operative where the profits derived from the company are not distributed to its members, but to the community as a whole.
A recent famous example of this kind of company enjoying great success is FC United of Manchester, the club set up co-operatively by fans of football in Manchester who lost faith with the big money driven approach of other teams in their city. They set up in this way in order to ensure that any money made by the club would bring long lasting benefits to the whole community in the same manner as Bradford One aims to achieve here in Bradford.
In 2009 the club made a Community Share offer, an offer that Bradford One will be making should our plans meet the approval of the relevant bodies who will decide on the future of the former Odeon building. FC United of Manchester were raising the finance required to build a brand new football stadium and associated structures that would benefit the local community and raised £1.7million in this way.
Community Shares are not intended to raise all the finance required for a redevelopment, but they are a powerful demonstration of the desire of the community to back a plan and can act as a lever to draw in further investment.
In this video Adam Brown, Director of FC United of Manchester explains how a Community Share offer empowered their community and allowed them to realise their dream of building a new stadium
For more information about Community Shares visit http://www.communityshares.org.uk/
Website for FC United of Manchester: http://www.fc-utd.co.uk/