Half a million shares in Northampton Saints have been sold to help pay for the proposed new North Stand at Franklin’s Gardens.
Saints chief executive Allan Robson has thanked fans for backing the scheme, which he has labelled a “total success”.
The club said “hundreds” of supporters signed up to invest in the shares sold by the Trustees of the Northampton Rugby Football Club Ltd Proprietary Club.
The proceeds of the sale will be invested into the initial construction costs of the new stand, with work expected to start in summer 2014.
It will increase the capacity of Franklin’s Gardens to 15,500.
Share certificates are currently being produced and will be sent to shareholders before Christmas.
Mr Robson said: “Having a successful share sale was important in helping the club expand Franklin’s Gardens in a viable way. And in selling all of the available allocation we have taken a big step in the funding of a development which will be crucial in ensuring the long-term health and sustainability of the club.
“I would like to thank all of the supporters who ordered shares and have invested their hard-earned money into the club. It is this commitment which makes Northampton Saints such a great club.”
A full planning application for the stand is expected to be submitted in early 2013.
The club management’s preferred source for the remainder of the funding is enabling retail development, which would see a food store built on one of the Franklin’s Gardens car parks.