Rowe encouraged by uptake in Debentures Scheme

By Mark Stevens
6/7/21

Exeter Rugby Club chairman and chief executive, Tony Rowe OBE, says he is highly encouraged by the uptake already shown by supporters of the club in the new 150 Year East Stand Debenture scheme launched this week.

The Devon club revealed on Tuesday their plans to raise £2.5m from the 10-year scheme, which will see 500 seats in the new-look stand made available to 500 debenture holders.

In just over 24 hours, the club are already a fifth of the way towards their target and Rowe is confident that many others will follow in what is an exciting and bold move from the club to extend capacity at their Sandy Park Stadium to 15,600.

Work on the new East Stand has begun with the famous terrace section set to be ready for the start of the new season in September with the elevated seated area due to be completed by Christmas.

“I’m very pleased with how the scheme has launched and with the take up we have already received from a number of our supporters in just these first few days,” said Rowe. “For some time there has been an obvious need for us to have what you would call, additional prime seats for supporters coming to Sandy Park on match-days.

“That has been the driver for us in looking to expand the capacity, particularly in the East Stand. Obviously, none of us knew the impact that the Covid-19 pandemic would have, but as a club – and as a board – we felt we had gone a long way down the road in terms of the plans for us to just stop and shelve things.

“Sadly, the effects of the pandemic meant we were forced to use our reserve funds, much of which we had designated for this project. However, rather than look to borrow more and more money, we have decided that the debenture scheme is the best way for us to move the expansion plans forward.”

The details of the Debenture Scheme are as follows:

£5,000 investment

Repayable at the end of the 10-year term

Ability to obtain a dedicated priority seat in the centre of the expanded East Stand (a season ticket would need to be purchased)

Ability to secure a 15% discount for each season ticket purchased over the debenture term (representing a 2.25% pa, effective yield on the debenture investment)

The priority seats in the centre of the upper tier of the expanded East Stand will be offered on a first come first served basis and you have the ability to request that a group of debenture holders are sat together

Priority access to any progression games outside of the usual season ticket matches (a progression game ticket would need to be purchased)

Free membership of the Online Tribe, which shall include a free online match-day programme

Access to a debenture holders bar area

Rowe added: “As I’ve said many times before, as a club we have to be seen to be moving forward all the time, not just on the field, but very much off it as well. This new East Stand, I believe, will help take Exeter Rugby Club onto bigger and better things – and further establish ourselves as one of the leading clubs in both the English and European game.”

To find out more about the scheme or to register your interest, visit www.exeterchiefsdebenture.co.uk