CARLISLE United fans will have six months to raise more than £250,000 if they want to be part of new investment into the club.

To open the door to new investment, CUFC Holdings will issue a million new shares, it was revealed today. 

Carlisle United Official Supporters' Club (CUOSC) will be offered a minimum of 253,700 shares for £1 each. It will have 20 days to accept the offer and six months to raise the money to retain its current 25.37 per cent shareholding.

The deal leaves 746,300 shares available for investment and equity conversion.

A spokesman from CUOSC said: "We are unclear on the finer details and wider implications of this proposal at this stage and are not aware of who may be involved as additional business investors or what specific sums of investment are being sought at this stage."

Representatives from CUOSC were disappointed after a meeting with shareholders of CUFC Holdings on Tuesday when it was confirmed that a £2 million investment proposal put forward by CUOSC and local businesses would not be pursued. 

At the moment, Carlisle United's chairman, Andrew Jenkins,  is the club's biggest shareholder, with 37.32 per cent of CUFC Holdings, which owns 94 per cent of the club. 

Carlisle United's debts to Jenkins and his company Pioneer have risen to £1.78 million, the club's latest accounts show. The accounts included a warning from the club's auditors about United's future for at least the third consecutive year.