1. Proposal; of Crusaders FC and Newington FC Giants Park Community Stadium & Sports / Educational Village Potential for community shares issue?

2. Crusaders FC Background Established 1898, proud working class institution Became senior club 1949, replacing Belfast Celtic League Winners 4 times, Irish Cup 3 times Current Manager, 7 trophies in 7 years, This Year: 3 rd Irish Cup Final in 4 yrs, League Cup Winners, SF Setanta Cup, UEFA qualification Owned, run by fans, affiliated to Supporters Direct

3. What’s the problem (1) Meet rising Standards: 2007-08 League moves to Licencing. Initial applicants ranked by points; Crusaders in 15 th place (12 team League) Debt: Owed £470,000 – much to HMRC, Bank, Brewery No credit: At limits of borrowing with Bank (Bank a “zombie” bank) Needed an immediate £30k to meet licencing criteria Needed around £100,000 to take advantage of (to ‘match’) available grant aid

4. What’s the problem (2) Football is popular, but doesn’t pay: Except Linfield, barely a financially sustainable club in N. Ireland! Not an investable business Island wide,“80% technically insolvent”, Drury 2008 Standards Rising: IFA, UEFA, (AIPL?). Requires new model. MODEL NEEDS TO - Generate (non football) income & be sustainable - Embrace all communities, welcoming leisure venue - Local authority involvement / “buy in” - Community “buy in” - Sports development approach Crues / Newington proposal is that model !

5. What’s been done? Bond Scheme Bond scheme Base rate + 2.5% Units of £250, no limit Payable within 3 years Bondholders unsecured 46 Bondholders Range £250 to £23,000 - 28: amounts less than £1000 - 9 x £1000 or above - 3 x £5000 or above - 3 x £10,000 or above Ring Fenced to Ground Development Development  New 4g artificial surface – opens stadium 7 days  New floodlights  New changing rooms  2 new 830 seat stands (modular, moveable)  Renovated North Stand  New pitchside fencing Means  Welcoming, open  Better community club  Better Youth Academy  New Womens section  Better income streams

6. Progress, but Still Problems The Good Technically Solvent: Debts still @ £470k, Asset net book value of £1.4m Profitable for last 3 years Shifted debt from “hard” creditors to “soft” creditors Grant £400k with Newington FC for “Mes Que un Club” Aim at Survival for 3 years, then “New Stadium” The Bad & Ugly Financially Precarious Not Solvent, based on ability to meet liabilities as they arise Cash Flow nightmare Still over-paying players, based on basic trading Still “footballers first” in creditor priority Cash culture prevails Still some dangerous “lights out” creditors Still gambling on success

7. Giants Park Community Stadium & Sports/Educational Village A sustainable, shared sports ‘Hub’ in North Belfast Proposal of Crusaders FC and Newington FC with Belfast City Council

8. North Belfast Most segregated part of N Ireland 22 of 42 NIO “Peace Walls” Highest “Troubles” related deaths Poor access to leisure facilities High levels deprivation

9. Main Features  4000 - 8000 Stadium (UEFA, DDA Eco compliant)  3500 seat Indoor “Pro-Basket” arena & public ice-rink  Sports Village: 100,000 sq ft rental space  Tertiary Education Block / “Hub”  Belfast Met. Football Academy  Signature Youthzone  Soccer Dome / MUGAs  Hotel & Retail  International Centre of Excellence (?)  GAA 3G pitch  Adventure Golf  PLUS - Global level media interest, 2000+ jobs

10. Sports Educational Village “A business park with a pitch in the middle” 100,000 – 120,000 sq ft let space Anchor Tenant: 3 rd level Educational) Sports Medical Unit Sports Retail Unit Sports Consultancy Unit College Coaching Unit Scope for Council play, sport, leisure depts rental

11. SUSTAINABLE BUSINESS MODEL* Permanent Tenant (s) Stadium Company Balanced Revenue Streams Sports Events (10%) Concerts/ Exhibitions (5%) Community Involvement and Events (5%) Business & Property – Leasing & Rental (80%) * This model stems from a ‘Global Model of Best Practice’ from research by University of Ulster

12. ESSENCE OF THIS PROPOSAL Overtly Cross Community Social Employment Enhancement Economic Sustainability

13. Key Club Benefits Sports Development “Hub” : Great playing/training facilities Competitive advantage A welcoming stadium to be proud of, DDA, UEFA compliant, Eco-friendly Improve attendances. Wider usage for school, community, events Create great media offices & hospitality space. Commercial income - match day facilities and let rental units secures long term clubs’ future. Sports Apprenticeships, on site Sports medicine Governed by “Stadia Co” - separate from Clubs !!!!!!

14. Community Shares ? Developer to build whole scheme £200m total Clubs can be “sweetheart” tenants, or Clubs can “buy equity” Crusaders can redevelop Seaview to clear debts Clubs can now fundraise for equity Community Shares, could lever in significant North Belfast “ownership” Issued through clubs to maintain communal balance, eg -X shares Crusaders -X shares, Newington -Y shares, independent Could lever access to stadia grant funding as part of equity

15. Next Steps Expression of Interest Development Brief Currently, due diligence Council decision by September Funding, Financing, Planning, Tendering & Build! Quick decision and momentum important. THEN Set up Stadia Co. Community Shares issue