The organisers of Field Maneuvers festival (cap. 1,500) have reached the £40,000 target of the crowdfunding campaign, launched last month with the aim of securing the event’s future.

The electronic music festival’s team, led by Henry Morris, Leon Cole and Ele Beattie, had previously warned the event was at risk of being in a crippling amount of debt if they did not meet the target.

The promoters originally cited overheads, a new site, the cost-of-living crisis and roll-over tickets from 2019 as being the main reasons for the event’s difficult financial situation. Despite selling out in 2019, it experienced a 30% drop-off in attendance and a reduced income from attendees onsite.

Field Maneuvers’ Save FM crowd-funder will run for four more days, with donation reward packages starting from £20. Organisers said the a new “stretch target” had been set as organisers still have an overdraft and a Covid bounce back loan to pay. Donation rewards include merchandise, VIP parties and a private luxury portaloo.

The organisers said in a statement, “We are totally overwhelmed with all your support. This has been a rollercoaster, from the high of putting on our best party, to the low of facing financial ruin, to the high that is having your community rally around you. Thank you FM fam, from the bottom of our hearts. This campaign has confirmed that FM definitely has a future.”