One of the key elements of the deal done with Feliciana EFL Ltd was the repayment of all debt including that which was secured on our main asset, Adams Park.
So on Friday 21st February 2020, the £450,000 loan that had been made in 2013 by Chairboys Funders Ltd (“CFL”), via Frank Adams Legacy Limited (“FALL”), to Wycombe Wanderers Football Club was finally repaid.
This allowed CFL to repay the loan notes it had outstanding with 20 fans each known as a Chairboys Funder.
Most of these Chairboys Funders had been in the CFL scheme since it was first launched in 2013 when about 30 people originally subscribed.
At the end of that first 5-year period, a number of Chairboys Funders were repaid with others extending their loans or taking up additional loans.
Now they have all been repaid in full, in line with the stated terms for early repayment.
The Funders came to our help at a very difficult time and whilst interest has been paid on their loans, their repayment was always uncertain until this deal with the Couhig family was agreed and completed.
We won’t name the Chairboys Funders to preserve confidentiality but they know who they are.
To all the Chairboys Funders, we send a huge round of thanks.
Adams Park remains 100% owned by FALL but is now unencumbered by any charge or mortgage.