Construction of AFC Wimbledon’s new stadium has hit financial problems according to the Evening Standard.
The Dons plan to move into their new 9,000-seat home close to their old Plough Lane ground at the start of next season, but they are yet to sign the main construction contract and need a significant cash injection to complete the deal after building costs soared to more than £30m.
The report claims the club need to raise an £11million shortfall by January and the Dons Trust, which owns 75% of the club, has called a meeting on 9 December to address the issue.
The 3,000 Trust members have several options to ponder, which include selling part of the club to outside investors, although, crucially in light of the club’s history, they would retain the right to veto relocating the team, selling the stadium, changing the badge, colours or club name.
Given the role the club’s previous owners had in the controversial relocation of Wimbledon FC to Milton Keynes, it is perhaps not surprising the article suggests that the issue of attracting outside investment into the club is dividing fans.
However, the Evening Standard claim without investment, building work could be delayed, or the club could end up with a much lower spec stadium than the one first envisaged.
It also suggests that the current financial strain of building the ground is now likely to impinge on the playing budget and threatens to plunge the Dons back down the football pyramid and put their immediate future in doubt.
The report concludes that only fresh investment will provide financial stability, reduced pressure on cash flow and a more competitive playing budget.
Our View
It now looks like a genuine crossroads for the South-West London outfit and their supporters.
The facts of football life are that you need money to progress.
Maybe Dons fans should ask the Wycombe Trust how they came to terms with the proposed investment of Rob Couhig.
They sit top of the league but have relinquished fan control to achieve this.
However, they do not have the history of Wimbledon, and we would completely understand if the Dons kept the money men out their club, whatever the consequences.
