Share sale boosts relegated Reds

EVO-STIK League newcomers Workington are celebrating a major financial boost as they prepare to bounce back from relegation next season.

The Reds, relegated from Conference North in April, have sold 125,000 shares in just three weeks to put the Cumbrian club on a firmer financial footing.

A number of existing shareholders have ploughed money into Borough Park, pictured, and an unnamed London-based man has also snapped up a large amount of shares. Hong Kong supporters Andy Ross and Barry Scott bought £50,000 of the newly-released shares while Reds director Dave Cumberworth and another unnamed backer also put £20,000 into the club's coffers.

Workington Chairman Glenn Heathcote says the major cash injection will easily see the Premier Division outfit through next season and beyond into the 2015-16 campaign.

Heathcote told www.newsandstar.co.uk: "For us to make £125,000 in less than a month is incredible. We have had buyers from across the world, which proves what an international company Workington Reds is.

"It also shows how amazing our support is. They have helped us raise a lot of money, which means we are financially stable for at least the next 18 months without the need to do anything else. We won’t, however, just be sitting back. We have plans like an open day and soul night, and then we will bring in revenue during next season."

He added: "Our fans never fail to amaze me. The support this club has had has been fantastic, but we cannot sell shares year after year. This was a one-off, but one that has safeguarded our future."