A CROWD-FUNDING scheme to raise money for East Fife Football Club is on course to raising the full amount needed for a new shop.

Glasgow-based Squareknot are running the project seeking £25,000 for the development and the total pledged so far stands £2,500 short of the target. A further £150,000 will be sought for a new stand and cafe.

Under the financing model, people who pledge money will receive one ordinary share in the club and benefits including season tickets, hospitality packages with access to players and the directors' box and club merchandise.

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The Scottish League One club is the first football club to use the crowd-funding method, which has recently raised £85,000 to secure the future of Darlington FC. Some 225 investors donated the money, through Squareknot, to Darlington FC.

Derek Bond, managing director of Squareknot, said: "The supporters really bought into the crowd-funding concept. I was extremely impressed by the passion and commitment of everyone concerned."