The company that owns Cornish Pirates and Truro City has gone past its crowdfunding target.
Kernow Sport has attracted pledges of more than £413,000 from almost 500 investors from around the world – beating its target of £350,000.
It is part of a plan to raise £2.5m to fund the two sides as main benefactor Dicky Evans begins to wind down his investment in the two clubs.
Truro aim to move to a new stadium in time for the start of next season.
“There’s lots of people who’ve left Cornwall but still have a passion for sport and seeing the clubs do well,” Kernow Sport chief executive Rebecca Thomas told BBC Sport.
“We’re pleased that it’s reached the overfunding mark and we’ve got a few days left.”
Investors will share a stake of just short of 6% in the company which owns Championship rugby side Cornish Pirates and newly-promoted National League South football team Truro City.
Evans has been associated with the Pirates for 28 years and pledged a final donation of £2.5m last year to help fund the clubs, with the aim that major new investors will come on board and take the sides forward.
He acquired Truro City in 2019 as part of plans to get the two to play at a planned new stadium in Truro.
“It’s about bolstering both clubs and the actual teams and what they’re able to achieve,” Thomas added.
“We have a benefactor in Dicky Evans at the moment, so it’s to bolster alongside that.
“He’s looking for supporters and fans to take some ownership and have their part in the clubs.
“It’s very tough times at the moment, we went into it with eyes wide open, not knowing how it would go.
“It’s not a traditional investment as such, in fact it’s the first sports club that Crowdcube have done this for, so it is a new concept and professional sport isn’t necessarily a money-maker.
“So the fact that we’ve reached the target, we’re delighted.”
