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Phil Wallace opens up investment opportunities

26 February 2019

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Stevenage Chairman Phil Wallace has today instructed his advisers that he is willing to look at external investors to help drive the club forward into the Championship...

Mr Wallace said, “I have been here 20 years this Summer and when we finish the North Stand this year, I will have fulfilled most of my personal infrastructure ambitions for the Club. I have no intention of leaving just yet, but I would much rather enjoy some years of Stevenage being a bigger spending club, attracting new supporters and aiming for the Championship. To do that, we need additional funding.

“The first priorities when I arrived in 1999 was to save the club from liquidation, build outside income streams that didn’t rely on attendances, implement a Foundation Department to work in the community and of course, achieve Football League status and retain it. Setting up a successful Academy along the way to produce players for the future and providing one of the best training facilities outside of the Championship have also both given me a sense of pride and achievement too.

“Our Club is now ready for the next step, but the only way that can happen is with increased attendances. The only way to increase attendances is to drive the club to the top of League Two, then do the same in League One.

"That takes additional money. To compete seriously at the top of League Two would require an additional £1m per year on top of the playing budget. That can come from developing and selling players each year, a great cup run, or an extra 2,000 people per game. None of these are guaranteed, so the other option is for new funding to come from individuals or consortiums prepared to invest into the Club with a view to increasing its value over a few years by moving it up the pyramid.

He continued, “Fortunately we are an attractive proposition. We are 20 minutes from London, we made a decent profit last year, we have a modern stadium and some great young players coming through that could be very valuable. Whether we sell 10% or a bigger stake depends on who it is and what their plans are.”

To enquire about ownership/investment opportunities, please contact CEO Alex Tunbridge.

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