South Shields Football Club
South Shields FC is striving to reach the Football League and progress numerous community programmes.
- South Shields FC has created a group structure to support growth
- The Club has invested wisely in infrastructure and its people
- The Clubs Academies and Foundation are increasingly recognised
- Investment is continuing with the building of our landmark stand
In 2020, South Shields Football Club offered shares for the first time to raise the funds it needed to realise its full potential, and expand upon the huge impact it had already made on its community. It was an extremely successful raise with over 1,000 new investors.
The club had a fantastic legacy between 1919 and 1930, where it thrived in the Football League. In 2015 a new, success laden period dawned, with 3 promotions in 4 years and a 5th denied when the FA declared the 2019-20 season null & void.
In parallel, it has been nurturing local talent in our 2 successful academies for young players from 11 to 19 years of age.
The COVID-19 lockdowns created many challenges, but the club feels the experience has made it stronger, and more determined & focused more than ever before to achieve its long-term goals.
The Club is committed to becoming community-owned, and feels the time is right to offer this 2nd round of share ownership. By participating you can help it toward this objective.
Substantial accomplishments to date
2013 - Club is left homeless after its lease on Filtrona Park expires.
2015 - Geoff Thompson takes over as chairman and brings club back to the renamed Mariners Park (now known as 1st Cloud Arena).
2016 - Northern League Division Two title is won, with Lee Picton and Graham Fenton taking over as joint managers.
2017 - Club enjoys its finest season, winning the FA Vase, Northern League, Durham Challenge Cup and Northern League Cup. More than 15,000 Shields fans make trip to Wembley for FA Vase final win over Cleethorpes Town.
2018 - Third consecutive league title and promotion is secured as Shields win the Northern Premier League North Division.
2020 – Shields lead the Northern Premier League Premier Division by 12 points when season is null & voided by the FA.
2020 – Over 1,000 new shareholders invest in the Club
2021 – Lee Picton is appointed as Chief Executive Officer of the Club.
2021 – Season is once again curtailed by the FA
2021 – Playing staff go full-time for the 2021-22 season
The corporate body of South Shields Football Club comprises a holding company, South Shields Football Club Group, and two distinct wholly-owned operating subsidiaries in which it has invested, SSFC Stadium Company Limited and South Shields Football Club 1888 Limited - please see the attached structure chart for further details.
SSFC Stadium Company Limited was established to hold the land, buildings, and assets of the football club at its stadium now known as the 1st Cloud Arena. It earns revenue through renting this facility to South Shields Football Club 1888 Limited, and a 25 year lease exists which was signed in July 2015. The rental value since 1st July 2021 has been £85k per annum.
South Shields Football Club 1888 Limited is the main operating company of the football club, and generates all of the external revenues through a number of different sources:
1. Match-day Income
2. Food & Drink
6. Other Income
Use of proceeds
In 2020, the Club raised £379,363, well in excess of its target. This has enabled the club to lay new pathways, and to replace the perimeter fencing. In addition, the club was able to install new covered stands at the east and west ends of the ground. The balance of the raise, as proposed, is being used to support the Club’s working capital.
This 2nd round of fundraise has a target of a further £200,000, which will be used for working capital requirements.
In addition to the improvements made this year, the Chairman, Geoff Thompson, is funding the build of an exciting new stand, through another of his companies, Stella Property Investments Limited. This will give an enhanced spectator experience, and also gives a huge commercial opportunity, as the stand will have its own extended bar/function room, food offering, and merchandise facilities.
A key decision in seeking the fundraise was to make the investment in working capital for short-term needs in order to achieve longer term objectives.
The company has a bounce back loan of £50,000 taken out from May for 72 months, after the 1st year. This loan is Interest free for the first 12 months with an interest rate per year of 2.5% thereafter.
There is a director's loan of £73,571 that will not be repaid till the club is profitable
Funds raised as part of this round will not be used to repay outstanding debt.
The company has 2 wholly owned subsidiaries, South Shields Football Club 1888 Limited and SSFC Stadium Company Limited
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