East Fife are hoping to raise up to £100,000 through a “crowdfunding” scheme.
The novel approach to bringing in new revenue involves a large number of people pledging small amounts of money in exchange for one ordinary share in the club as well as a range of other benefits, including hospitality packages and season tickets.
If the scheme is a success, the money raised will be used to develop a 750-seater stand, shop and cafe at New Bayview.
Club chairman Lee Murray said: “Although the club is operating within its financial means, there is little scope within the budget for capital spend on stadium enhancements and the directors do not believe that incurring significant levels of debt to fund capital projects is the correct approach for the club to take.”
Murray, meanwhile, has vowed not to pay a penny for Blair Henderson after insisting the New Bayview outfit have a letter from the Scottish Football Association dismissing Dunfermline’s claims for compensation.
The 20-year-old has penned a deal with the League One outfit until January 13 after turning down the chance to stay at East End Park in the close season.
Pars manager Jim Jefferies has previously stated that his club would be due a development fee for the young striker, who was at the club from the age of 15.
Compensation is due for a player if they are under the age of 23 and were offered a contract on equal or better terms at least 90 days before their deal was due to expire.
However, Murray says he has an official document from the SFA which states Dunfermline did not meet those requirements.
East Fife, subsequently, would be required to pay no compensation for Henderson, who becomes their first signing under interim boss Gary Naysmith.