FC United of Manchester (FCUM) has moved closer to its planned new stadium in Moston after the club successfully raised more than £1.6m through a community share issue.

In addition to the new Taylor Young-designed stadium, the £4.6m project will also feature the provision of community facilities such as a full-size artificial pitch and junior grass pitches.

Manchester City Council has approved planning permission for the scheme and reaching the £1.6m target means FCUM can move to secure grant funding towards its stadium vision.

FCUM general manager Andy Walsh said: "Reaching our £1.6m target from the share issue is a fantastic achievement, especially in the current economic climate.

"Raising capital through community shares is a unique development in English football and has been recognised as offering a real alternative to the way football is run and financed."

FCUM worked with Co-operatives UK, the trade association for co-operative organisations, on the community share issue. Manchester-based law firm Cobbetts advised the club.

Details: www.fc-utd.co.uk