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Ed Sheeran has pledged his support for Music Venue Trust\u2019s \u2018Own Our Venues\u2019 initiative, which aims to take control of the freeholds of music venue premises.<\/p>\n
By taking control of music venue freeholds, MVT will be able to give them a protected status under benevolent ownership. The concept is built on the \u2018Community Share\u2019 model that has been successful in saving local pubs, post offices and even sports grounds and clubs.<\/p>\n
British singer Sheeran said: \u201cOwn Our Venues is an initiative I\u2019m really passionate about getting behind. Small, independent venues are so, so important to the music community, and I\u2019ve played some of my favourite gigs of my career in these rooms. We\u2019ve got to do all we can to protect these beautiful venues that we\u2019ve all come to love for years to come.\u201d<\/p>\n
The \u2018Own Our Venues\u2019 scheme from the charity, which has been extended to December 31 2022, is aiming to raise \u00a33.5m ($3.8m\/\u20ac3.9m) in initial investments to acquire nine venues. MVT identified nine venues for a pilot project which will enable the scheme to establish a proof concept, before further venues can be identified and secured.<\/p>\n
On completion, the venues will be offered an immediate rent reduction and help with building repairs and insurance, while also guaranteeing long-term security. Music Venue Trust is aiming to complete the purchase of the first nine music venues by the end of December.<\/p>\n
Individuals and companies have pledged their support through direct investment, through new investment platform Etehx or via MVT\u2019s Crowdfunder campaign. At the time of writing, the Crowdfunder total has reached \u00a3355,000.<\/p>\n