Wycombe Wanderers Trust held its regular monthly board meeting on Wednesday 22 July 2015.
Football Club Update:
The WWFC Chairman attended and gave a full update on matters relating to the Football Club.
The trip to France had been a great success as a team bonding exercise and preparation for the new season.
A half page advert had been taken in the BFP to promote season tickets. Sales have already surpassed last season’s total.
Damian Irvine had commenced as Head of Commercial Activities and the recruitment for a Food and Beverage Manager is underway.
Nearly 250 applications have been received for the Share Scheme so far with a total value of £575,000 over the next five years against a first year target of £750,000.
An article written by Dale Jenkins on the Share Scheme has now been published on the Supporters Direct website (link can be found here).
Expenditure to replace a number broken seats in the stadium was agreed, funded through a combination of Lisa Bowker’s skydive, OWWSA donations and Share Scheme funds. An advertising board will be erected to demonstrate the benefits of the Share Scheme and to thank those who contributed.
Wycombe Wanderers Trust directors will sponsor the home shirt of Luke O’Nien (pictured right) for the forthcoming season, with Board director James Sumner personally sponsoring manager Gareth Ainsworth.
John Derben updated the meeting on progress with the maintenance work. 8000 seats have been cleaned by 37 volunteers and 720 hours of time had been committed by volunteers, saving the club from significant expenditure.
The Trust table in the Vere Suite will continue throughout the coming season on a rota basis with directors taking it in turns to field questions, give out information and provide a vehicle for communication with members.
Next meeting: Wednesday 19 August
Supporters Direct exists “to help fans to set up democratic cooperatives (known as supporters’ trusts) to gain influence in the running and ownership of their clubs” They were naturally the first people we contacted when the chance came to take over the ownership of Wycombe Wanderers FC and they have given us tremendous help since then, particularly with the setting up of our Community Share Scheme.
Thanks to a well written piece by Dale Jenkins on behalf of the WW Trust, Supporters Direct are now carrying this article on their website and it has gone out to all their followers around the country by email
“Following the successful operation of the service last season, the bus will once again be available for home and away fans to gain simple, convenient access to the stadium from one of three pick-up points.
Based on a review of the pricing structure, there will now be a small charge for concessions as follows:
Adult return: £3
Adult single: £2
Concession return: £1.50
Concession single: £1
Fares are charged at the same rate regardless of where passengers board the service. Concessions are classed at under 16s and over 60s.
The service timetables are as follows:
Saturday service (for 3pm kick-offs)
- Wycombe Railway Station – 13.05 and 14.05
- Eden Bus Station – 13.15 and 14.15
- Cressex Park & Ride – 13.25 and 14.25
- Adams Park – 13.35 and 14.35
- Adams Park – 17.10
- Cressex Park & Ride – 17.20
- Eden Bus Station – 17.30
- Wycombe Railway Station – 17.40
Midweek service (for 7.45pm kick-offs)
- Wycombe Railway Station – 17.50 and 18.50
- Eden Bus Station – 18.00 and 19.00
- Cressex Park & Ride – 18.10 and 19.10
- Adams Park – 18.20 and 19.20
- Adams Park – 21.45
- Cressex Park & Ride – 21.55
- Eden Bus Station – 22.05
- Wycombe Railway Station – 22.15
Pubs, shops, hairdressers, take away shops are good places if you can get their permission to display one. Alternatively display a poster in your house or garden as long as it can be easily seen by passers by!
Please call in and collect as many as you can get displayed and distribute them as soon as possible.
We should have some available on the Trust table in the Vere Suite at the first couple of games.
Some of the Trust Directors will be in the Vere Suite before each game, manning the table on a rota basis this season.
Great progress has been made, on and off the pitch, this season and the Community Share Offer now provides a fantastic opportunity to raise the working capital that has been desperately needed since Trust members became the proud owners of Wycombe Wanderers.
Click this link Presentation 19032015 for the slides shown at the formal launch meeting which was on Thursday 19th March. We now want all members and fans to see the offer brochure and this is available by clicking on the blue underlined links below.
Share Offer Brochure – for viewing on screen
Share Offer Brochure– pdf version – for printing out
We believe the brochure and the forms cover everything but we have set up a dedicated email address for any questions – email@example.com
The supporting documents referred to on page 18 of the brochure can be found on our dedicated Share Offer page via this link http://www.wycombewandererstrust.com/share-offer
Important note for members who have already made payments: If you have made advance one-off or monthly payments, we still need you to complete the application form as your formal acceptance of the Share Offer.
On receipt of your form, we will reply to you by email to confirm your individual situation. If this isn’t clear and you would like some clarification beforehand, please email firstname.lastname@example.org and we will come back to you.
We hope you will be as excited at this opportunity to take our Club forward as we are, and of course we hope that having looked at the brochure, you will decide to make an investment – however great or small.
Thank you for your time and best wishes
A small group from the Trust Board, led by new Trust Director Dale Jenkins have put together the following which we hope will be useful:
The Basic Structure
Wycombe Wanderers Trust took over Wycombe Wanderers Football Club on 29th June 2012 from Steve Hayes.
Wycombe Wanderers Trust owns Wycombe Wanderers FC (the trading entity) and Adams Park as separate entities.
- Wycombe Wanderers Trust Board is made up of the following directors:
John Bignell email@example.com
Mark Burrell firstname.lastname@example.org
Alan Cecil email@example.com
David Cook firstname.lastname@example.org
John Derben email@example.com
Garry Heath firstname.lastname@example.org
Dale Jenkins email@example.com
Nigel Kingston firstname.lastname@example.org
Trevor Stroud email@example.com
James Sumner firstname.lastname@example.org
Colin Treacher email@example.com
- Ownership of Adams Park (professionally assessed at £7million) is held within Frank Adams Legacy Limited (“FALL”). There is a separate FALL Board, currently under reconstruction.
- Most major debts of the Trust sit under FALL, secured by charges on Adams Park, but Wycombe Wanderers Trust also has some debts to pay.
- Wycombe Wanderers Trust relies on rental income from WWFC (the trading entity) to gradually pay down its creditors and loans via FALL (for example remaining Steve Hayes repayments, Chairboys Funders interest).
- No takeover or change in ownership can proceed without 75% approval from all Legacy Members.
- Legacy Members are members who are in their fourth (at least) consecutive year of holding a season ticket. Legacy membership is retained in future years as long as season ticket holding continues. There are approximately 570 Legacy Members at present.
- A uniquely structured members club; one of only four fan owned clubs in the Football League.
- Wycombe Wanderers Trust became a Community Benefit Society during 2014 as this allows us to raise capital by selling shares to our members (see under Functions, below).
- Our full registered name is Wycombe Wanderers Supporters Group Limited. We had to adopt this name as part of the process of registering as a society, but we have kept Wycombe Wanderers Trust as our day to day trading name for everyone’s convenience.
Wycombe Wanderers Trust does not run the football club.
- Wycombe Wanderers Football Club controls all income from footballing matters and the use of Adams Park on matchdays and non-matchdays.
- Wycombe Wanderers Football Club’s operations are managed by Andrew Howard (WWFC Chairman) and its employees.
- Only the Wycombe Wanderers Trust Board can appoint and remove individuals from and to the WWFC club board (WWFC’s Club Board is made up of Andrew Howard, Ivor Beeks, Mark Burrell, Trevor Stroud and David Cook).
Since Wycombe Wanderers Trust, and its Board, does not run the football club, the Trust’s job is to create an environment which will help WWFC to succeed.
This is done in a number of ways:
- Providing governance over its subsidiary companies – WWFC and FALL – and also support WWSET– our Community Trust which has charity status.
- Providing support to WWFC, for example volunteer forces to reduce costs; aiding and assisting WWFC’s employees through “WWFC PALS” as and when required.
- Undertaking other fundraising initiatives, for example sale of matchday badges and voluntary Trust member initiatives – to raise income.
- Communicating with members via emails, members meetings and visibility. Trust board directors will be held to account by Trust members and a third of the Wycombe Wanderers Trust Board directors retire by rotation at each AGM.
- Seeking to grow and expand our membership and therefore widen the fan ownership base in the community, particularly the younger and the future generation of supporters.
- Ensure members are consulted about and vote on the designated key issues affecting the football club (listed in the Trust Rules on the Wycombe Wanderers Trust website).
- Raising funds via the Share Scheme – to secure the working capital to allow Wycombe Wanderers Football Club to move towards breakeven (or a small profit) and allow the football club to pay its rent as scheduled to pay down remaining debts/ loans.
Since the 5th of July the volunteers working on the stadium have amassed a total of 120 days ( averaging 6 hours a day ) that is 720 hours of voluntary effort John Derben says: “I cannot begin to express my appreciation and grateful thanks on behalf of the Football Club for this significant contribution. Well done all those supporters who have worked [more…]
One recent investor into the WW Trust Share Scheme has written the following to us: It’s a pleasure to support the club in this way It may be of interest to know that for me the EIS tax relief was a great inducement to invest Thank you or whoever for organising the scheme in this [more…]
Here are the slides from the Trust Members Forum on Tuesday night Forum Slides 070715 Plus the Q&A that followed MM Q&A 2015
Wycombe Wanderers Trust have tonight announced new appointments to the boards of the football club, Frank Adams Legacy Limited and the Trust itself. In light of the recent resignations of Don Woodward and David Roberton, both Nigel Kingston (pictured left) and John Bignell (pictured right) have been co-opted on to the Trust board, having previously stood [more…]
Trust members who have invested into the Share Scheme will be asking where their share certificates are along with the Enterprise Investment Scheme document from which they should be able to claim their tax relief. We now have all the share certificates but each one needs to be hand written and signed. The first batch [more…]
Yes with the new season’s fixtures already on the calendar, we are starting to plan for each game coming up at Adams Park. Terry’s Badges stall will be back once again, just inside the Adams Park gates selling our Matchday Badges, some others based on WWFC themes plus Terry’s usual collection of Non-League football badges. [more…]
Membership of the Wycombe Wanderers Trust has now exceeded the one thousand mark and is still rising. As of the end of May we now have 1021 Members of whom 571 are Legacy Members who hold certain additional rights. The recent boost in Trust Membership has come from fans needing to join in order that they [more…]
Although the period for getting a 15% discount ended on the 29th May, you can still pick up a Season Ticket for the 2015-16 season with the benefit of a 10% discount if you buy it before the end of July. Income for the club at this time is so important as there are bills [more…]