Fans Looking to Sell Wycombe Wanderers

Wycombe Wanderers Trust have issued a statement about the sale of their controlling interest in the Club to an unnamed company. That company “are committed to injecting funds into the club to continue its development both on and off the field”.

The statement says:-

Since taking control of Wycombe Wanderers in June 2012, the Trust has strived to raise sufficient working capital to secure the future development of the football club. Whilst constructing a share offer to raise the necessary working capital, the Trust Board has become involved in talks with a company, none of whom has previously had any financial interest in the football club, with a view to their purchasing a controlling interest in the football club, together with a commitment to inject the necessary funds to continue the development of the football club both on and off the field. Discussions have continued with this company alongside preparation of the share offer, and heads of terms were signed earlier today.

Before this is progressed members will need to vote for it, and a 75% majority in favour is needed:-

Under the rules of the Trust, the sale of a controlling interest in the football club is a ‘hard right’ and therefore 75 % of all Legacy members would need to vote in favour of a sale. To start this process, it is proposed to hold a Trust members’ forum at 8pm on Tuesday 18th February 2014 in the Vere Suite, when details of the proposals will be presented, together with the opportunity for members to ask questions.

The statement also mentions that the Trust can keep ownership of Adams Park if it chooses:-

The Trust board believes the offer to be beneficial in securing the long-term future of the football club, while the Trust will retain ownership of Adams Park, potentially free of all outstanding debt, if it so chooses.

The full statement can be read on the Wycombe Wanderers website, here.