The Vanarama National League club have appealed for new directors to join the board and, they say, to play a part in delivering their dream of playing in the Football League.
The club had had an impressive rise and that is thanks to chief executive Bradley Groves, who has put forward the money to help the north east club up the ladder.
But he says the time has arrived for the club to look for outside help and released a statement saying appealing for investment.
“We are now in the process of developing our next long-term plan. To keep progressing the way we are will require further investment from outside the club,” Groves said.
“We are now competing on a weekly basis with fully professional and former Football League clubs, so we’ve made the necessary improvements both on and off the pitch for our first season at this level.
“We have further plans to embark on major structural changes to the ground to bring it up to National League and then Football League standard over coming months and years, which will obviously require further investment again.”
He added: “Not only have we invested in the team and the stadium, we have made major improvements to our training facilities and provided our supporters with a dedicated clubhouse.
“For a town with a population just over 20,000, we have achieved some remarkable things and embedded Spennymoor Town in the heart of the community.
“We have a brilliant base to build from here and have received excellent feedback from visiting clubs this season, many of whom haven’t played Spennymoor before. We’re involved in arguably the most exciting and competitive league outside of the Football League and we’re enjoying every moment of it.
“With the determination to progress further, it’s a great time to come on board and I hope to be able to welcome some more people into the fold in the coming weeks and months to share the enjoyment I’ve gained from this football club over the last eight years.”