In January 1902, with debts of £2,670 – equivalent to £ in – the club was served with a winding-up order. Captain Harry Stafford found four local businessmen – including John Henry Davies, who became club president – each willing to invest £500 in return for a direct interest in running the club. As a mark of this fresh start, on 24 April 1902, the club's name was changed to "Manchester United". Under Ernest Mangnall, who became club secretary in 1903, the team finished as Second Division runners-up in 1906 and secured promotion to the First Division, which it won in 1908 – the club's first league title. The following season began with victory in the first ever Charity Shield and ended with the club's first FA Cup title. Manchester United moved to a new stadium at Old Trafford in 1910, and won the First Division for the second time in 1911, but at the end of the following season, secretary Mangnall left to join Manchester City.