EASTLEIGH fans are to be given the chance to invest in the club.

Chairman Stewart Donald has got the green light to transfer his loan of almost £5 million into shares, making the Stoneham Lane outfit completely debt free.

The Vanarama National League club has the permission of its shareholders to issue up to a total of ten million shares in the company as they work towards "sustainable success".

A resolution was passed agreeing that Donald’s loan of £4,852,394 would be transferred into shares.

Eastleigh hope to be able to offer fans the ability to invest in the club in the not too distant future.

The long-term goal is for the Spitfires to achieve self-sustainability as they continue their quest to reach the Football League.

Oxfordshire-based businessman Donald said: “I am delighted that I have been able to transfer my debt to shares.

“The reality is that I already owned over 50 per cent of the club, so on a day to day basis it will make no difference at all.

“What it does mean for the fans though is that they do not have to worry about the club owing anyone any money, including me.

“They can relax, safe in the knowledge that funds are already in the club to continue building the infrastructure and to cover the next two years’ running costs.

"It is important to me that the fans know the club has no debt and that, although we are spending money, we are investing it to try and achieve sustainable success.

“It is clear it is not self-sustainable without my finances just yet. However, we have increased season tickets to almost 1,200 from less than 50 and have gates of over 2,000, up from around 500.

“This, coupled with commercial revenues in excess of £1 million, means that it is starting to make Eastleigh a much more viable model.

“There is a long way to go but, by ensuring all the funds I invest are done so without creating debt, I know this will give Eastleigh FC the best possible chance of long term success.”