'Not sustainable' Wimbledon in talks with investors

AFC Wimbledon are seventh in the League One table

AFC Wimbledon say their current structure is not sustainable for competing in the EFL and they are in talks with investors to sell a minority stake in the club.

The Dons have announced an operating loss of £600,000 and project finances "will become very tight at the end of this season".

Board members said that "despite the constant generosity of our fans and bond holders, competing in the EFL at Plough Lane with our current structure is not currently sustainable".

The club, which was founded by supporters of the former Wimbledon FC and is majority owned by the Dons Trust, says it has reduced its debt by £2m and repaid £1.4m of Plough Lane bonds but their playing budget ranks 23rd of the 24 teams in League One.

"Despite this, the increases in playing budgets and operating losses across the leagues, that we highlighted in our report [in June], show that stadium revenue growth is unlikely ever to be enough to achieve break-even sustainability in League One or Two," the club said in a statement.

The opening of the Cherry Red Records Stadium in 2020 marked a return to Plough Lane for fans of the former club.

The Wombles were promoted to League One last season and have made a strong start to life in the third tier, picking up 25 points from their opening 15 games, with only goal difference keeping them out of the play-off places.

The club first announced in October it would be looking for investors.

"Since then the board have been in conversations with potential investors prepared to take a minority stake in the club and also contribute working capital to help us break even and have a more competitive playing budget," the statement said.

The club added they were looking for new investors "who share our values and commitment to fan ownership".