AFC Wimbledon Offer 25 year Season Tickets, to Pay Off Plough Lane Loan

[Ericsladkilnhurst]

AFC Wimbledon - The club are offering 25 year season tickets, to pay off Plough
Lane Loan.
The club are hoping to sell 500 of the 25 year season tickets, to help pay off a
bridging loan, the club took out to return to Plough Lane.
The new season tickets went on sale today Thursday, costing around £10,000
each, & the money raised will predominately be used to pay off a £4.1m
bridging loan, the club took out, from external lender MSP Capital to
guarantee their new stadium would be completed.
The club are aiming to sell 500 season tickets, which would allow the loan to
be repaid in full, but even 200 sales would payoff a large chunk of the
money owed.
The club has raised money before in - Plough Lane Bond - Crowd Funding Scheme
- Also the sale of their Old Kingsmeadow Stadium, to Chelsea F.C.
The 25 year season ticket can be passed on, in a fans will or transfer to
someone else they nominate, if unable to go to games, the club will honour
this for the term of the ticket.
" The bridging loan is secured against Plough Lane, & we have to pay it back
by next April ", explained Chair of the Dons Trust Finance Committee, David Rey.
" The 25 year season tickets are the best potential route to refinancing, a
very expensive loan - without jeopardising the ownership of the club &
the stadium, quite frankly, they are the best option to us right now.
If the scheme is a success, it would give the club a solid financial foundation,
upon which to build for the future of Plough Lane ".

[Brin]

ELK that equates to £400 per season which is an awful lot of money for a low league club.
Great you can pass it on or through the family etc but, the initial outlay of £10k is a hell of a lot to be asking from the average working fan.

[CAMiller]

"If the scheme is a success, it would give the club a solid financial foundation, upon which to build for the future of Plough Lane"

Doesn't say what will happen if it's not a success. Sounds like someone took out a secured loan with no solid plan of how to pay it back. We all know what happens to your house when you don't pay the mortgage. Still, you could sell tickets to your neighbours to come and sit in your front room, cook themselves a meal in your kitchen, romp in your bed or have a bath once ever 2 weeks for 25 years and see how many take up the offer.

[Brin]

"If the scheme is a success, it would give the club a solid financial foundation, upon which to build for the future of Plough Lane"

Doesn't say what will happen if it's not a success. Sounds like someone took out a secured loan with no solid plan of how to pay it back. We all know what happens to your house when you don't pay the mortgage. Still, you could sell tickets to your neighbours to come and sit in your front room, cook themselves a meal in your kitchen, romp in your bed or have a bath once ever 2 weeks for 25 years and see how many take up the offer.

I quite like your kitchen.....oh and you’re ready for a new mattress. 😉

[Ericsladkilnhurst]

The pandemic will have hit hard at Wimbledon, with finances being down, like all clubs,
but the club have a agreement to pay back the loan by April next year.
The loan of £4.1m is a big debt to pay back, so on default the club loses the ground,
but what would the loan company do with the land, what acreage is it in size, what's
the area like, if they built big sw*nky homes & made money.
What happens to the club, ground share, or do they rent the ground.

[avondalemiller]

....oh dear....I was 1 of the 58(?) who paid £1000 for the Season ticket for life with Millers05, D Coleman took over and didn't honour them.....bye bye a grand.