January 18, 2012 9.02 am This story is over 116 months old

£500k investment to prop up Lincoln City FC

Investment: More than £500,000 will be used to secure the short to medium term future of Lincoln City Football Club.

A new investment of more than £500,000 has been agreed in order to secure the short to medium term future of Lincoln City Football Club.

The money comes from the club’s Chairman, Bob Dorrian, along with Lincolnshire Co-operative Ltd and Lindum Group, as well as other board members.

The club has been struggling financially since relegation from the Football League in 2011, costing the Imps an estimated £500,000.

“We have been looking for new investment in the Club over the last few years, Dorrian explained in a statement.

“It also forms part of the restructuring that has taken place since the club’s relegation from The Football League and is certainly something to build upon going forward.”

A statement by Lincoln City Supporters’ Trust said: “Given the need for fresh investment into the Football Club to meet its serious financial challenges, it was important that we supported this new arrangement and the investment it brings.

“It remains in line with the Trust ethos of mixed ownership that includes leading businesses, individuals and, of course most importantly, supporters as represented by the Trust.

“Everyone involved with Lincoln City has known of the financial pressures and while the Trust has pushed for new investment, tighter controls and greater savings, which have all taken place, more significant investment was needed.”

The Trust said it will have a major role in the new business model, with its substantial shareholding in the company and representation on the board.

Photo: Dominic Clark for The Lincolnite

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