Crymych residents are raising their arms in jubilation this week after raising no less than £191,00 by their May 31 deadline in order to buy the Crymych Arms as a community venture.

This means that their £175,000 goal has been exceeded by a whopping £16,000. 

And what makes their celebration even more worthy is that fact that their achievement comes just eight weeks after the community share offer was first launched on April 1.

The initiative has been led by Crymych Football Club, which was established just three years ago.

The club subsequently registered as a mutual society cooperative which then issued shares in raising the funds to buy the pub enabling it to be re-opened as a community hub, clubhouse and pub. Or, as the locals have now christened it, a 'pub-club-hub'.

The football committee members are now awaiting the outcome of their grant funding bids in order to clinch all the finances needed to buy and reopen the community pub-club-hub by August, 2023.

Several hundred people have already bought the £100 shares, with many buying them as gifts for those who support the idea as well as many football supporters who are keen to support local grassroot sports.

By buying a share, people will not only own part of the pub but will also become owners of a football club.

The full asking price of the pub, which has remained closed for the past 18 months, is £275,000.

The football club committee will continue to accept new members wishing to buy the £100 shares.

Anyone interested in the venture and fancy being a co-owner of a pub and football club can visit http://www.cpdcrymych.cymru for the share offer prospectus and read about the community investment which offersa 3 per cent gross interest per year.

The next public meeting about community venture will be on Wednesday, June 14, at 7pm at Crymych market hall.