Wycombe Wanderers Trust Ltd, hereafter referred to as “The Trust”, is pleased to announce that it has succeeded in completing the acquisition of Wycombe Wanderers Football Club Ltd.
In a deal of significant value, the Trust has acquired the Ground, Training Ground and Club, and is delivering the long term protection of the generous Frank Adams gift. Both Frank Adams Legacy Limited and Wycombe Wanderers Football Club Ltd start the 2012/13 season with positive Balance Sheets.
Trust Chairman, Trevor Stroud commented: “The Trust is delighted to take control of Wycombe Wanderers, especially in the club’s 125th anniversary year. The plan is to work to a break-even model which will secure a sound financial footing for the club. I would like to express our appreciation to Steve Hayes for the considerate and constructive approach he has taken throughout the acquisition process. In addition, we wish to place on record our recognition of the contribution made by Mr Hayes to the club’s achievements during his tenure, and to Ivor Beeks and Brian Kane for their significant contributions in the negotiation process.”
Steve Hayes responded: “I’ve thoroughly enjoyed my time, firstly as managing director and then as owner, and my support for the club will continue to be just as passionate as ever. I’m extremely confident that the club are in the best possible hands and wish the Trust every success in control of a club which I hold close to my heart.”
Under the deal that has been agreed, the Trust will form a holding company, which will control two separate entities, the Wycombe Wanderers Football Club, which will run the footballing operations and Frank Adams Legacy Ltd, which will be responsible for Adams Park, the Training Ground and the heritage aspects of the club. The Trust is delighted to announce that Karen Adams has agreed to serve on the Board of Frank Adams Legacy Ltd.
Details of the operating structure of all three bodies will be announced in due course, however in broad outline, the deal has succeeded in achieving the following objectives:
- To takeover all the business activities related to Wycombe Wanderers Football Club Ltd including its’ properties
- To stabilise the current trading position
- To reinstate the enshrined rights and with it the Frank Adams legacy by preserving the ownership of Adams Park and, additionally, to retain ownership of the training facility
- to enter season 2012/13 with accounts for 2010/11 signed off and the 2011/12 accounts, prepared in accordance with the regulatory timetable, leaving Wycombe Wanderers FC with a positive balance sheet.
More detail will be provided at Monday evening’s Trust members meeting.
- The Trust was formed from the merger, in 2008, of Wycombe Wanderers Supporters Trust and the Wycombe Wanderers Founders Trust, with the express purpose of representing the views of supporters and protecting the long term interests of the Club. This has been our guiding principle during negotiations.
- With immediate effect, the Trust assumes full responsibility for the day to day running of the football club and will be entering into further, detailed discussion with all parties affected by the change of ownership.
- In addition, the Trust will be enjoying the benefits of advice from Supporters Direct and other bodies and individuals having the interests of the football club at heart and other Trusts who have assumed similar control or influence.
- Over the past few years, Wycombe Wanderers has made significant operating losses. The Trust is committed to reversing that trend and will be aiming for financial break even as soon as possible. There will be close examination of running costs and every opportunity for increasing revenue will be explored. The Trust’s objective is to live within its’ means and to ensure stability and security in all aspects of its’ operations, both on and off the field of play. This is a time for financial prudence and consolidation, but equally, a time for optimism as we enter a challenging phase in the Club’s future.
- Never has support for Wycombe Wanderers Football Club been more important than now. This continues to be a fans’ and family club. The Trust is determined to recognise and retain the values of its’ long and eventful history. Support during the forthcoming 2012/13 season, the season that sees us celebrate the club’s 125th anniversary, is vital. Our visits to Wembley and our Semi Final at Villa Park in 2001 saw tens of thousands turn out. Let’s improve our home game attendance this season. Financially, and in terms of the growth in confidence, an increased attendance would have a massive impact.
- Join the Trust now by visiting https://www.wycombewandererstrust.com/trust-membership/ or by contacting the Membership Secretary at the Registered Office address below. Any Trust member having time, skills or a willingness to support the club in any capacity should contact the Trust at [email protected]
Wycombe Wanderers Trust Limited, 3 Kingswood Place · High Wycombe · Bucks · HP13 7SR
Registered Office as above · Registered in England & Wales No. 05190371
Email: [email protected] · Telephone: 07973 961068
Website: www.wycombewandererstrust.com · twitter: @wwtrust