Qatar is set to invest $153,000 in the world’s oldest football team.
Sheffield FC, which was formed before any other club in 1857, is set to receive the investment through Qatar's World Cup supreme committee, according to an Associated Press report.
The club, which plays in the eighth tier of English football, is currently raising funds to build a proper playing pitch and stadium on land at Olive Grove, where the club was founded.
Hassan Al Thawadi, secretary general of Qatar's World Cup supreme committee, told the news agency that he hoped their contribution would raise the profile of the fundraising campaign.
“Over the past few years since the (Sheffield FC) chairman first contacted us we have been working together to look for suitable ways in which we could lend our support," Al Thawadi said.
“Our modest contribution is part of a first step on an important journey for the club of gaining wider support for the (stadium) project.”
Sheffield FC, who approached Qatar after being snubbed by approaches made to the English Football Association and Premier League, hopes the Qatar interest will generate more interest in the project.
“This is not about Qatar muscling in,” Sheffield FC chairman Richard Tims told the AP. “This is about having a catalyst that makes everyone sit up and take note ... a partnership between the new kids on the block and the world's first football club protecting the heritage of football.”For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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