SSE Airtricity League side Bray Wanderers have formed a community-owned company to help fund and run the club.

The company, Bray Wanderers Community Football Club, has been set up to raise funds for the team, help pay down the club's debt and finance projects to develop amenities for the local community at the Carlisle Grounds.

Club president Philip Hannigan said: “The old way of running the football club wasn’t working. A new business model was needed – and we believe this is it. We are confident that by getting the local community involved in owning and running Bray Wanderers, we can secure a sustainable future.

“Bray Wanderers Community Football Club will be run for the benefit of the whole community.

“All funds it raises will be ploughed back into developing the team, the grounds and establishing community-based projects for the benefit of the wider local community.

“The majority of shareholders have agreed that once Bray Wanderers Ltd is unburdened by debt, they will pass ownership of the club over to the new company.”