Generally, mini-bond investors will not be compensated for their losses. SSC Tuatara set top speed record on regular Michelin tyres, Best haunted hotels in the UK you can stay in - if you're brave enough, Restaurant where Rishi 'did shifts for fun' will offer children free meals over half term. From the outside, a shortfall of £11m in the final year of such a long process might appear alarming. When do clocks go back in other countries? In addition to this, mini-bonds are highly illiquid – which means they cannot easily be converted into cash. Slim Patches: Do They Help You Lose Weight? “They’re proving that now by putting the money in. Coronavirus: how to protect your pensions and investments amid stock market panic, Companies which raise funds for their own activities. It has award-winning community schemes, the charitable Wimbledon Foundation and a plethora of coaching and education courses. Kate Garraway pictured with Prince William and Kate Middleton after 'secret' meeting, Frank Lampard transfer risk is a warning to Manchester United, AstraZeneca says its Oxford vaccine deal allows it to add up to 20% of manufacturing costs, iPhone 12 and 12 Pro UK release: New design, 5G and other features reviewed, Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article, New Car Gadget Magically Removes Scratches & Dents. This is the final hurdle of that story.”. That’s normal.”. Unlike many Football League clubs, AFC Wimbledon have no wealthy owner to turn to. Now, with a return back to Plough Lane on the horizon, there is a funding shortfall. “It’s a great opportunity to invest in something that not only gives you a better return than you could get at the bank, but allows you to be part of one of the best football narratives and also to do something for the community,” AFC Wimbledon chief executive Joe Palmer tells City A.M. Club chiefs are finalising a development finance package with a more traditional lender, but the more the bond raises the less they will have to lean on other means. The more the Bond raises beyond £5m, the better the terms that are available for the commercial lending. This is because these bondholders were given ‘misleading’ advice, which is a valid claim for FSCS compensation. With the promise of bumper rates of return and/or perks like supporting your local club, burritos and beer, these investments can be very attractive. This supporters’ initiative now being operating by the Dons Trust offers the very best possible vehicle for funding the development of Plough Lane and retaining control … Also, bondholders don’t have the same status as shareholders so you won’t necessarily have control over the activities of the company you’re invested in. Or at least part of it. In return for lending money, you can get a variable interest rate of up to 4% annually and your capital returned after the term you’ve chosen. We are keeping the Bond open to allow more investors to participate. While the firm itself was authorised by the FCA to give financial advice, the sale of mini-bonds is not a regulated activity. Here, Which? There are various exemptions to the ban including: But this does not necessarily mean such mini-bonds are safe to invest in. AFC Wimbledon needs money to finish the stadium construction and this Bond is the best mechanism for the Dons Trust to provide it. There is no billionaire backer to fund the phoenix club’s dream of playing a first true home game for 29 years. Having been founded in 2002 by supporters as a protest against the original Wimbledon’s uprooting to Milton Keynes, the Dons have risen through the divisions, winning six promotions in 13 years to reach League One. They don’t normally have a secondary market so they can’t be sold on, which can make it difficult to get your money out. The Plough Lane Bond is a mini-bond issued by AFC Wimbledon’s fan-owned, The Dons Trust. And the quicker a high level of Bond take-up is combined with commercial funding, the sooner we ensure the stadium gets built on time. The rest of the claims are expected to be reviewed in the first quarter of this year, although the FSCS has said it’s likely a large chunk of investors will not get any compensation. Much of it will come from The Plough Lane Bond, with improved commercial lending terms for the remainder. The FSCS won’t be able to compensate 283 other victims, because they dealt with LCF before it was authorised to carry out financial services business in June 2016. Mini-bonds have become a popular way for smaller companies to raise money. After many years of speculation, hope and wranglings with Merton Council, supporters got what they had always wanted in 2015: permission to build a new stadium on the site of the original Wimbledon’s original home of Plough Lane.

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