The FA have investigated a breach of player/agent rules by Wycombe Wanderers and have taken disciplinary action against the Club. In the statement by the FA they have said:-
Wycombe Wanderers have been fined £10,000 and warned as to their future conduct after they admitted breaching The FA’s regulations in relation to player agent activity.
The suspended element of this sanction will be invoked in full upon a proven breach of The FA football agent regulations during that period.
Smith, who denied the breaches was also warned as to his future conduct following the Independent Regulatory Commission hearing.
Wycombe have issued the following statement in response:-
Wycombe Wanderers Football Club has been issued with a fine of £10,000 for a breach of C2 of The FA’s Football Agents Regulations, in relation to the original sale of Matt Phillips to Blackpool in the summer of 2010.
During Wycombe Wanderers Trust’s period of due diligence of the club during its acquisition in 2012, they were assured there would be no outstanding liabilities in respect of this, or any other, transaction carried out by the previous management. We now understand this not to be the case.
The Football Club has cooperated in full with the FA, acting in good faith and bringing the matter to the attention of the authorities once the irregularities were discovered in September 2013. At no point before, during or after the investigation has the club attempted to deceive or conceal information from the FA.
Whilst the charge is related to the time of the previous owner, and that the £10,000 fine is a direct result of the action of those previously associated with the club, Wycombe Wanderers and Wycombe Wanderers Trust accept the charge and will not be making an appeal.