Stevenage FC have today issued a sincere thank you to fans that subscribed to the Bond which provided £600,000 towards the construction costs of the new £2 million North Stand...
Investors were given three options for the annual interest payment due in September 2020, following the suspension of games in March. Holders were invited to either convert their 4% interest due as a cash payment into an 8% club credit, to insist that the bond was paid as normal, or to forego the years interest and donate it back to the Club to help in these troubled times.
Chairman Phil Wallace said, "We already knew our fans were amongst the most loyal in the EFL but the response to our request has driven our partnership with, and respect for them, even deeper. A massive 82% of the responders said they wanted to forego the interest payment due and to instead donate the money back into the club and, in addition, just under 6% said they’d convert to a club credit instead of taking payment.
"These sort of actions are why the Board and management are all so committed to our community and why we go that extra yard to fulfil our role within it.
"Early 2020 wasn’t exactly the best time to open a brand new £2 million stand and the cost of that build, with no income from it at all, is hurting us badly but it’s an asset for future generations and we hope the facilities will deliver sizeable income streams in years to come when this crisis is over.
"On behalf of everyone at Stevenage, I can’t thank these people enough for their love of the football club and their actions in assisting us during this difficult time."