Finn Park to be sold to help Harps deliver stadium

Finn Harps are set to sell their current home Finn Park to help finish a new stadium due to a current €1.5m shortfall that is preventing building in Stranolar recommencing.

While the club is seeking donations up to €1,500 and has secured a tax relief scheme to generate funds, they are adamant it will not be possible to fundraise the amount needed set by their construction partners.

State, council and FAI funding totals at €5.8m as it stands, with €7.3m needed to progress the build.

The need is all too apparent, with Finn Park currently unable to host matches at night due to a lack of working floodlights.

Officials have admitted the existence of the club is under threat if they don’t move forward with the stadium project which has been ongoing for over 15 years and has stalled on numerous occasions.

The club were initially planning to keep the venue to host women’s and underage matches, but see its use as collateral as a realistic solution to bridge the gap.

Building cannot commence until all of the €7.3m is in place.

In a statement they said: “We recognise that it would be impossible within any short-term timeframe to raise this full amount from our fanbase alone, while continuing to support the significant costs of running the club’s ongoing football operations. It would simply be a bridge too far.

“Therefore, the board of directors propose to secure bridging finance to ensure the project is fully funded before we start.

“This bridging finance will be asset backed by the new stadium initially, and when the new stadium is complete, by the existing grounds at Finn Park.

“At that point Finn Park can be sold to repay the loan if required.

“This is a funding model for the required €1.5m that we feel is achievable, with a combination the sale of the current Finn Park, and raising both stadium and operational funds from our members, fans and potential donors.”

Harps are also aiming to move to an annual membership scheme to help deliver more guaranteed revenue.

The club will organise events in Dublin, London and the US in the coming months.

The proposals will be presented to shareholders at a special general meeting on 28 April.

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