Trust Update – 21st January 2019

IMPORTANT – SEE AGENDA CHANGE NOTIFICATION ISSUED ON 25th JAN.

We are a week away from the Legacy Members meeting at which Bill Luby and Jim Collis, and I, will present their proposal for taking the club forward, by acquiring a majority stake in Wycombe Wanderers. At such an important time for the club, I wanted to take the opportunity to update you on a handful of topics.

Firstly, later this week we will be able to share:

  • Details relating to Bill and Jim’s proposal, which will be sent directly to Legacy Members, giving them the chance to consider various elements of the deal in advance of the meeting
  • An itinerary for Bill and Jim’s visit, where there will be opportunities for all supporters – not just Legacy Members – to meet them

We remain in constant dialogue with Bill and Jim, and their team, and want to be sure that all information is accurate, relevant and fully approved from both sides before we are able to share it.

Meanwhile, I am aware of queries which were raised at the most recent Fans Council, which I am more than happy to cover off here.

– Firstly, there was a question as to whether the Trust had broken one of its own rules (rule 102) in relation to the loan we have recently taken from Bill and Jim, and the charge against the stadium.
The answer to this is no – the loan has been taken out by the club, rather than by the Trust. Our reason for the loan was simple; our cashflow reached a critical point over Christmas and when asked, Bill and Jim volunteered a loan facility to ease us through this problem period. Such a facility was not available via a bank or other means, and if it was, similar security would have been demanded.

– Meanwhile there has also been talk of other potential bidders in the process, and we acknowledge that one interested party has called a meeting to present directly to supporters. To date we have received an outline proposal from the party in question, but no formal bid.

We have always declared that we have been in discussions with more than one interested party and I can only reiterate that Bill and Jim’s proposal remains the recommended route forward for the Trust board. We will never close the door on any potential interest until such point that our negotiations with Bill and Jim reach a conclusion, but theirs is the best deal for the club – in the view of the Trust board.

Thank you for your continued patience and understanding while we work hard to achieve the best deal for the club going forward, and we look forward to sharing more details once we are in a position to do so.

Trevor Stroud
Chairman