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Mar
7

Trust Members Update – 7th March

Wycombe Wanderers Trust are pleased to confirm that they have received a formal offer for an initial minority shareholding in the football club from Andrew Harman and will be meeting Mr Harman this week to discuss the offer in more detail.

The Trust board will then give full consideration to both Mr Harman’s offer and the one made by Bill Luby and Jim Collis – seeking a majority shareholding – before providing another update to members.


Trevor Stroud
Chairman

Feb
14

Extension Granted for Becoming a Legacy Member

At the Legacy Members’ meeting on 28th January, a request was made to reconsider the cutoff date for Trust membership which, providing the 4 consecutive Season tickets criteria is satisfied, would lead to Legacy Membership status.

It has been agreed that the cutoff date for applications for Trust membership that would allow such applicants to become Legacy members, has now been set at Saturday 23rdFebruary. Applications can be made by completing the form which can be downloaded here or by obtaining and completing a form from the Trust Table before the next home game, vs Gillingham on that day.

Click here to read more about Legacy Membership

Feb
6

Updated Timeline for Investment Process

Wycombe Wanderers Trust are now able to update members on a revised timeline in the process relating to potential investment to provide long-term stability for the football club.

As previously communicated, a meeting was due to be held on Monday 28th January whereby Legacy Members would hear a presentation of a formal offer made by two American businessmen – Bill Luby and Jim Collis – who are seeking a majority stake in the club. This presentation, to include more details of Bill and Jim’s vision for the club, would then have initiated a voting process whereby Legacy Members would be asked to approve the deal (requiring a 75% of ‘yes’ vote).

This meeting was postponed at short notice after the Trust Board was made aware that Andrew Harman, a local businessmen and former player, was also interested in submitting an immediate formal bid for investment. Having previously held tentative discussions with the Trust board., Mr Harman met with a number of Trust directors in mid-January 2019 to present the outline of his proposal, which he also shared with supporters at a public meeting, Together with Bill Luby and Jim Collis, the Trust Board has agreed to halt the process in order to allow Mr Harman time to submit his offer.

Mr Harman was initially asked to submit his formal offer in three weeks’ time (week commencing 18th February) but requested an extension of two weeks, which has been granted. While the Trust Board are keen for the process to move forward quickly, to enable the club to undertake long-term sustainability planning and start the planning process for next season. Mr Harman has indicated he needs more time to complete his due diligence and submit his offer.

The new agreed timeline is that Mr Harman will submit his formal offer in the week commencing 4th March, including a meeting with the Trust Board to present his offer in detail. The Trust Board will then consider his offer alongside that of Mr Luby and Mr Collis, and call a Legacy Members meeting to update them on the situation as it stands. Further details of this meeting will be communicated in due course; it is very much the Trust’s intention to hold this as soon as possible after their meeting with Andrew Harman.

At the Legacy Members’ meeting on 28th January, a request was made to reconsider the cut-off date for Trust membership which, providing the criteria is satisfied (i.e. Trust membership and season ticket holding for four consecutive years), would lead to Legacy Membership status.

It has been agreed that the cut-off date for applications for Trust membership that would allow such applicants to become Legacy Members, has now been set at Saturday 23rd February. Applications can be made by completing the form which can be downloaded here or by obtaining and completing a form from the Trust Table at the next home game.

Visit the website for a full summary of the Legacy Members meeting on Monday 28th January, or apply to join the WWT Live Stream group on Facebook to watch the full video of the event (Trust members only).

The Trust board held a meeting for Legacy Members last Monday (28th January) at the Union Baptist Church on Easton Street in High Wycombe, attended by 227 Legacy Members, with a live stream available on Facebook for those unable to attend, plus all Trust members (receiving more than 600 views to date).

During the meeting, chairman Trevor Stroud made a presentation in three parts – the slides of which can be seen here.

The first part covered a timeline of the process which has led to the position outlined above; where the Trust will consider both bids in mid-March and explain the rationale for their recommendation to Legacy Members.

A synopsis of that timeline – which can be viewed in more detail on the slides – is as follows:
– 2015: Trust identify need for additional funding for the football club, and initiate the Share Scheme
– 2016: Share Scheme raises c.£700k but Trust recognise that outside investment is likely to be required
– 2017 (January): Trust introduced to Steve Horowitz, who has completed transactions of football clubs to new owners including Liverpool, Inter, Portsmouth, Crystal Palace and Dagenham & Redbridge. He advises the Trust that he will introduce them to suitable partners that he believes would be good custodians of the club
– 2017 (November): Trust meets Andrew Harman, who puts forward an outline proposal for investment
– 2018 (January): Mr Harman’s proposal is declined due to it being based on club debt, rather than equity. The Trust are keen to learn lessons from the past and not see the club fall into significant debt to any individual or organisation which has loaned money into the club
– 2018 (January): Mr Horowitz introduces Trust to two American businessmen, Bill Luby and Jim Collis
– 2018 (March): Mr Luby and Mr Collis visit the club for introductory meetings
– 2018 (July): Mr Luby and Mr Collis return to the club to meet whole Trust board. Talks with other interested parties are ongoing
– 2018 (August): Trust call members meeting to inform them of board’s recommendation that the club requires investment. At this time, Mr Harman is informed that the club have received two offers – one for a majority stake, one for a minority stake. Mr Harman acknowledges the information in writing and wishes the Trust well with their progress with these two bids
– 2018 (September): Trust outlines the need for investment to members, and asks for mandate to proceed with talks and bring their recommended proposals forward. A show of hands in the room indicates that this mandate is given
– 2018 (October): Proposal offered by Mr Luby and Mr Collis is selected unanimously by the Trust board as the recommended route forward
– 2018 (November): Mr Luby and Mr Collis visit Adams Park to meet members and answer questions. After this point, the Trust enters into formal discussions with a view to an offer being made. Also this month, Trust recognises need for a Plan B in the event of Mr Luby and Mr Collis’s offer not being accepted by Legacy Members, and Mr Harman is asked to sustain his interest in investment
– 2019 (January): Trust are made aware via a post online that Mr Harman wishes to revitalise his offer as a Plan A, and arrange to meet him to discuss. At this meeting, Mr Harman presents an outline proposal which is not rejected but the Trust board raises concern at the timing and the lack of detail in the proposal. Mr Harman calls a public meeting to share his proposal with supporters. The Trust board – together with Mr Luby and Mr Collis – agree to postpone the scheduled Legacy Members meeting and vote in order to allow time for Mr Harman to submit a formal bid
2019 (February): Trust board initially ask Mr Harman to submit an offer within three weeks, but agree to an extension of a further two weeks, as requested by Mr Harman.

Trevor Stroud commented that Mr Harman has been asked to clarify the size of his investment offer, over what time period, and what type (i.e. debt or equity). The Trust board also require further detail on Mr Harman’s plans to settle existing club debt, his recommendation for rent payable to Frank Adams Legacy Limited by the club for the use of Adams Park, and the envisaged ongoing relationship between club and Trust. The Trust would like to explore Mr Harman’s plans for further investment beyond the initial injection of funds, and the structure of the proposed academy, plus its benefits to the football club.

The Trust board have arranged to meet Mr Harman at the end of the five-week window, where he will present his offer and a new recommendation to members will be made. Arrangements for meetings with Trust/Legacy Members will be made in due course. In the event that Mr Harman does not submit an offer, the Trust will proceed with a Legacy Member vote on the offer made by Mr Luby and Mr Collis. Bill and Jim have been kept updated throughout this change in proceedings and have reiterated their desire to see the best possible outcome for the club, appreciating the magnitude of the situation and offering their full support.

At this stage, questions were taken from the floor:

Q) Why was the Trust’s position (from 2016) not communicated to members sooner?
A) The update was given to members at the meeting in September 2018 once a position had been agreed by the Trust board that they should proceed with talks with potential partners. There is a commercial sensitivity to publicly declaring the club is for sale.

Q) Why have members not received details of Bill and Jim’s proposal?
A) Members would have received details prior to originally scheduled meeting on 28th January, but this was placed on hold once it was revealed that Mr Harman wished to make a bid.

Q) It looks as though the Americans might now be changing/improving their bid once they know the details of Andrew Harman’s offer
A) Bill and Jim want to be involved with the club, but they want the best for the club, and recognise that if there is a better offer out there, they will walk away. We’re looking for a level playing field where we have two offers that can be placed alongside each other to enable us to make our recommendation to members.

Q) Were all bidders allowed to take a majority stake?
A) They were all aware that a majority stake was available if they desired. One party wished for a majority stake, one wished for a minority stake – a third party in August was aware of the other two bidders and wished us well.

Q) Why can’t we see both bids?
A) At this stage we only have one bid, and an expression of interest from another. We’ve had lots of expressions of interest down the years but once pushed, they have not made an offer.

Q) Andrew Harman said the reason for his re-engagement in the process was that a Trust director had approached him to do so. Is that the case?
A) We have continued to engage with other parties throughout the process. It had previously been indicated that Andrew was willing to remain in the background as a fallback. The Trust formed a sub-group to explore a Plan B in case the offer by Bill and Jim was rejected. Andrew was asked by one director in November if he would be available to come forward if required with a Plan B, and the answer was yes. Plan B (which was discussed with a team deputed by the Trust Board) was intended to be a fallback, not an alternative, which it now is.

Q) You have said that an equity-based deal is preferable to a debt-based one. Why is that?
A) The Americans would not be coming in as a creditor. They would be coming in as a partner to help us clear debt. We are placing as many safeguards as possible into the deal, to make sure that lessons from the past are learned, and mistakes are avoided.

Q) Have you considered a Plan C – where the Americans and Andrew could work together?
A) That has been put on the agenda for consideration.

Q) Why have other opportunities not been heard about previously?
A) Until 12 days ago we didn’t believe another proposal was there; we now know we will be receiving a second bid. The third offer has been there for a long time but has not been sufficient to bring to members.

Q) Why are you allowing Andrew Harman back into the process now if it could scupper things?
A) It’s fair, and we have to consider the best thing for the football club, so it is only right that we give him the opportunity to make an offer that we can consider. We want a level playing field.

Q) Now we have two offers, can we not just vote on which one we prefer, and go with whichever gets the majority?
A) We will look into the voting process once we have more information about the second bid.

Q) Have you checked for proof of funds from the Americans?
A) We have engaged an independent consultancy to carry out due diligence on both Bill and Jim, and will be doing the same on Andrew Harman. Everything we have received so far has confirmed they are men of substance.

Q) Is Bill and Jim’s proposal based on personal investment, or through venture capital?
A) It would be personal investment.

Q) Are you accepting any new proposals, and are you setting a deadline?
A) We think it’s unlikely there will be any new entrants into the process. We will agree a timetable with Andrew Harman and communicate that. We don’t have long; we need to move forward.

Q) I understood from Andrew Harman’s meeting that he was not aware until January that a majority stake was available.
A) Our communication with Andrew in August explained that we were in discussions with two parties; one regarding a majority stake, one regarding a minority stake. He wished us well with those discussions.

Q) Will you reopen the process for new Legacy Members (i.e. season ticket holders of 4+ years who have not yet joined the Trust)?
A) We will take advice on that from the relevant authorities.

Q) If you go with the minority stake option, could the Trust accept this without a vote?
A) The rules provide that a majority sale requires 75% approval from Legacy Members. There is nothing to say that a minority sale requires any vote/approval. There is a provision that if a significant change is made to the club, the Trust should seek to run a ballot of members.

Trevor Stroud then continued with his presentation, relating to the loan which has been taken out with Bill Luby and Jim Collis, which resulted in a charge being placed on the stadium as security for the loan.

The key points from the slides are as follows:
– A bridge loan was required due to the critical cashflow situation through November and December (which was eased in January due to solidarity payments from the EFL). Bill and Jim were approached and the response was quick and supportive.
– The loan came in two tranches; the first was definitely required, the second was dependent on ‘football fortune’. Once the club had exited both the FA Cup and Checkatrade Trophy in November, the second tranche was required. While the first tranche carried a charge on the club, the second carried a charge on Adams Park.
– These details were not communicated due to the commercial sensitivity of declaring the financial position amidst negotiations with sponsors and players
– If Bill and Jim are successful, their loan will be transferred to equity, and the charge will be lifted
– If Bill and Jim are unsuccessful, the loan will be repaid by the new investor, and the charge will be lifted
– There has been suggestions that the Trust may have broken rule 102 by securing a loan with a charge on the stadium without seeking approval from members
– The Trust board admitted that this rule was overlooked; the rule was introduced in 2014 after two previous loans had been taken out with charges on the stadium. The board acted on the precedent of these loans
The Trust board has sought independent legal advice which has clarified that the rule has not been broken, but the board will now seek member approval for any future charges against Adams Park

Trevor Stroud then went on to clarify his position:
– His role as chairman of both Trust and club was approved by the Trust board
– The Trust board was elected by members
– His position can be reviewed by the Trust board at any time, and the position of the Trust board can be reviewed by members at any time
– If Bill and Jim are successful, there will be two Trust board members on the club board
– No decision has yet been made on who the two Trust representatives would be
– No Trust or club director would be employed by the club if Bill and Jim are successful, or stands to make any financial gain
– Trevor reiterated that it is an honour to serve as chairman, and everything he and the Trust board does is considered to be the right thing for the club

The floor was then opened to questions:
Q) Have you sought loans from commercial partners?
A) We are in constant dialogue with commercial partners, but have yet to find anyone willing to loan £500,000 unsecured.

Q) Have you sought advice from Supporters Direct?
A) Yes, there has been dialogue with them; Lawrie Read (Trust director) had a conference call just last week.

Q) What would be the makeup of the club board if Andrew Harman is successful?
A) That is yet to be discussed.

Q) Will you change the rules relating to charges being placed on the stadium, to require member approval?
A) Yes – this will be ratified in due course.

Q) Why did we find out about the charge on Companies House, and were not informed before?
A) As a fan, I’d want to be able to tell you everything. As chairman, we had to be conscious of the sensitivity of making things public.

Q) Have you discussed a minority share with the Americans?
A) Yes – they have indicated their preference in a majority share, based on the figure that they plan to invest in order to sustain the losses and develop the club.

Q) Will we be paying off the loan soon?
A) I don’t believe that to be the case.

Q) Is there a conflict of interest with you being the chair of Trust and club, in the Trust board’s view?
A) It has been raised, it has been discussed and it has been shared that the Trust board can review it at any time. The situation will be reviewed once this process is through.

Q) Why is the voting on this decision not open to all members, but just Legacy Members?
A) We wish it was, but in reality the rules were set up as a defence mechanism. There were concerns that it wouldn’t take much for somebody to get people to join the Trust and vote through the sale of the club. We set a high bar to ensure that the people that make the decision are season ticket holders, and in theory, the most loyal fans. To change that rule, we would need approval from 75% of Legacy Members.

Q) How many Legacy Members are there?
A) We have 810 Legacy Members. A Legacy Member is a Trust member who has held a season ticket for the past four consecutive seasons at least. We have close to 1,400 Trust members.

Q) Will Andrew Harman’s proposal be funded by loans or equity?
A) We are of the understanding that the answer to this at the moment is ‘don’t know’.

Q) Will the situation be sorted by Easter?
A) We very much hope so.

Q) What happens to the club if neither offer goes through?
A) It would be a serious situation. We’re performing really well on the pitch but need resources to help us keep doing that.

Q) Would Bill and Jim clear the existing debt?
A) They won’t come in and write a cheque to clear the debt, no. We have a deal in place to pay rent from the club to the Trust to help clear the debt, yes.

Q) To what extent is there an opportunity to use investment income to establish an academy to help bring through the next Roger Johnsons, Jordon Ibes?
A) The general view from the footballing side is that the academy model is flawed, for a number of reasons. The EPPP rules have changed since we sold Jordon Ibe, which restricts the amount of money that the lower clubs can receive. Sell-on fees can be a lottery, as with Kortney Hause moving on loan from Wolves to Aston Villa, rather than a permanent move. We feel there is a gap for a development/reserve squad, where talented youngsters from the Sports & Education Trust’s Elite & Development Academy might have an opportunity. Gareth Ainsworth is very good at identifying good players that have been let go by other clubs, such as Curtis Thompson and Alex Samuel.

Q) When will see the details of the Americans’ proposal?
A) It will be depend on the timetable agreed with Andrew Harman. Approximately three weeks, as it stands. [NB this timescale has since been lengthened to five weeks, as outlined above]

Q) Has Andrew Harman signed an NDA and been given access to accounts?
A) There is an NDA running from our initial discussions, but he will re-sign it and receive access to the accounts. [NB the NDA has since been signed]

Q) Are you aware that Andrew Harman came into the Woodlands Lounge to talk to supporters, and was of the impression that the vote would be going ahead tonight?
A) Andrew isn’t a Trust member so he wouldn’t have received the communication about it.

The meeting then concluded at around 8.45pm. A full transcript of the Q&A sessions from the meeting is available upon request by emailing tony@wycombewandererstrust.com, or apply to join the WWT Live Stream group on Facebook to watch the full video of the event (Trust members only).

Jan
25

Legacy Members meeting – Agenda Change

Wycombe Wanderers Trust, together with Bill Luby and Jim Collis, have agreed to change the scheduled Legacy Members meeting – taking place on Monday 28th January – after the Trust received an expression of interest from a second party.

Following the Trust board’s recommendation to its members regarding the best route forward for the football club, Mr Luby and Mr Collis were due to make a presentation to initiate a voting process with a view to gaining Legacy Members’ approval for their offer of investment.

Late last week, the Trust received an outline of interest from Andrew Harman and will now give Mr Harman time to submit a formal bid for consideration by the board of directors.

A Legacy Members meeting will still take place on Monday evening, from 7.30pm at the Union Baptist Church in High Wycombe, with a number of Trust board directors present.

Chairman Trevor Stroud said: “Following discussions this week with Bill and Jim, we have mutually agreed to postpone that part of the meeting where they were due to present their offer to Legacy Members.

“The Trust have been in discussions with Andrew for a number of months and he will be offered the opportunity to make a formal bid, so we look forward to receiving full details in due course and we will update members accordingly.

“We feel this is the best and right approach and thank Legacy Members for their patience and understanding of the change in arrangements at late notice. We are keen for a meeting to still take place on Monday, and invite Legacy Members to hear further clarification of the situation and take the opportunity to ask questions. 

“Bill and Jim will now not be visiting the club this weekend but we will look to arrange a new date with them at some point in the near future.”

A statement from Bill Luby and Jim Collis read: “We remain committed to earning the support of the Wycombe Wanderers community to become stewards of this unique and special club. Above all, we want the best outcome for Wycombe Wanderers so we both encouraged and welcomed the Trust’s decision to open up this process. We look forward to presenting our proposal in the near future.”

Jan
21

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


Jan
7

Legacy Members Meeting – 28th January

I am pleased to confirm the Legacy Members meeting will take place on Monday 28th January, in the Hub (Wycombe Baptist Church), Easton Street, High Wycombe HP11 1NJ starting at 7.30 p.m.

The purpose of the meeting is to present to members the proposal for investment into the Club, by Jim Collis and Bill Luby. This meeting had been provisionally scheduled for 14th January but has been pushed back to allow for more time for details of the proposal to be discussed between the two parties.

Following the first meeting, a period of voting will open (circa three weeks) and members will be able to vote online or by post.

A second formal meeting will be called, where a further presentation will take place together with the opportunity to vote in person on the night. The votes will be counted on that night and the result declared.

As we are talking about selling a majority stake in the Club, 75% of the 810 Legacy Members have to vote in favour. The important message is a non-vote is a no vote and it would be criminal if apathy decided the future of our Football Club.

It is planned to issue details of the proposal before the first meeting, and there will be ample time to ask questions, at the meeting, as well as on-line during the voting period.

You should by now have received an e mail confirming your status as a Legacy member. If you have not received this communication, and believe you qualify to be a Legacy Member, please contact David Cook at David.cook@wwfc.com

A more detailed timetable and how the vote is to be conducted by Electoral Reform Services will be sent to Legacy Members in the next few days. In the meantime, please put the meeting date in your diaries.

We are entering one of the most important phases in the history of our Football Club, it is your Club and it is vital, that you understand what is being proposed, and exercise your democratic right to decide it’s future.

Trevor Stroud
Chairman

Nov
30

More from the 2018 Trust AGM

Thanks to about 170 members who came to our AGM on Thursday night.

One feature this year was a presentation by Paul Foley, the Head of the club’s ‘community arm’ Wycombe Wanderers Sports and Education Trust.

You can see all of Paul’s presentation slides via this link WWFC Trust AGM Presentation

In particular slides 10-15 which outline the many different workstreams in which WWSET (a registered charity) is now involved.

The WWSET video is too big to upload here but can be viewed on our Facebook page  https://www.facebook.com/wwtrust/

Do go to WWSET‘s website http://www.wwset.co.uk/ to find out even more which includes the WWSET strategic plan 2018-21 paper copies of which were on each chair last night to take away. Or you can read it here http://www.wwset.co.uk/wp-content/uploads/2018/08/WWSET-Strategic-Plan-2018-21.pdf

Nov
27

Trust Members Update – 27th November

As previously announced the Trust AGM is taking place this Thursday, 29th November 2018 at 7.30pm in the Caledonian Suite.

Food will be available from 6.00 p.m. with the bar opening at the same time. Complimentary Tea & Coffee will also be available.

The AGM will follow the usual format i.e.

Adoption of the Minutes

Chairman’s report

Finance Report including appointment of the Auditors

Election of Directors

It has previously been announced that 5 people were standing for 4 places on the Trust Board, and therefore an election would be necessary. However, one of the candidates, John Bignell, has decided not to stand, meaning there are 4 people standing for 4 places. As a result of this, a ballot will not be necessary, and each candidate will be subject to an individual resolution to elect them. A statement from John Bignell regarding his decision is below.

“Changes to my personal circumstances recently have led to my decision over the weekend to regretfully withdraw my nomination to serve on the Trust Board as I am unable to give the time and commitment that I know will be needed for a further three years.

I will continue to support the Trust fully and indeed have agreed to continue with the membership duties to facilitate an orderly handover and through the very important Legacy vote period.

The Chairman and Board continue to have my full support especially in relation to their continuing negotiations with the potential investors.

My life long support of the club will obviously remain and I intend to continue with my match day duties and other commitments.

I would like to thank you for giving me the opportunity to serve this past three years and I look forward to exciting times ahead for this great club of ours.”

The 4 candidates will still make their planned talks, so Members have a clearer understanding of their background and skills.

Following the official business of the evening, there will be a 15 minute presentation by Paul Foley the Head of Wycombe Wanderers Sports and Education Trust, who will update members on the work of WWSET.

I will then update members on the progress and planned timetable for the Legacy Members meeting and vote re the potential investment from Bill Luby and Jim Collis, and if time permits, we will finish the evening with a Q&A with myself and Michael Davies regarding Football Club matters.

For the first time we will be live streaming the AGM via the private Facebook group. If you are not already a member of the group, follow the link here https://www.facebook.com/groups/1930775593696898/ and request to join the group. Provided you are up to date with your membership you will be allowed to join and will be able to watch and hear proceedings. If you have a question to ask, please forward it to trevor@wycombewandererstrust.com and I will ensure it is asked and if appropriate, answered.

I look forward to seeing you on Thursday.
Trevor Stroud
Chairman

Nov
24

Trust Membership Renewals Are (Over) Due

Membership fees for 2018-2019 became due on 1st November.

The majority of members pay by Standing Order but if you prefer other means you can pay by cash or cheque at the Trust table in the Caledonian Suite before our next home game.            

Alternatively send a cheque to Wycombe Wanderers Trust at Adams Park, Hillbottom Road, High Wycombe HP12 4HJ or pay directly into the Trust account, sort code 40-24-38, account no. 81390031 – using your membership number as your reference. 

If you are not yet a member and wish to join – you can do this at the Trust table in the Caledonian Suite or by emailing johnbig@wycombewandererstrust.com for an application form. You can also pick up a form from reception at Adams Park during office hours or download one here Membership Form 2019

Whatever way you pay your continued membership is much appreciated.

John Bignell
Membership Secretary

Nov
20

Audited Accounts FYE 30th June 2018 – UPDATED 7.11.18 & 20.11.18

22.10.18 The Audit of Accounts for Wycombe Wanderers Supporters Group Ltd, (t/a WW Trust), Wycombe Wanderers Football Club Ltd and Frank Adams Legacy Ltd has now been completed and most of the respective boards have now signed off their annual reports (WWSGL will do theirs this week).

Copy of the accounts for WWFC Ltd has now been sent to Ordinary and Founder Shareholders of that company by email (or by post where necessary) and a copy has been placed on this website under our Share Offer heading http://www.wycombewandererstrust.com/share-offer where, since the launch of the Trust Share Scheme, all our accounts have been available.

UPDATE: 7th November 2018 The signed audited accounts for Frank Adams Legacy Limited are now available and have been added to the same page – for sake of continuity

UPDATE: 20th November 2018 Ahead of the AGM next week, the audited accounts for Wycombe Wanderers Supporters Group Ltd (t/a WW Trust) have been added to the same page as above or can be viewed via this link WWSGL – signed accounts to 30.6.18

Nov
8

Trust Statement of Apology

Wycombe Wanderers Trust is aware of an inappropriate comment which was made publicly by one of its members at the meeting at Adams Park yesterday evening.

The Trust have today made contact with the member in question, who has acknowledged that the comment was unintentionally in extremely bad taste and apologised for the offence caused.

Oct
31

Trust Members Update – Informal Meeting with Potential Investors 7th November

At the meeting held on 12th September, the Trust members agreed in principle that the Club should seek external investment, with investors taking either a majority or a minority interest in the club in exchange for the provision of a permanent capital solution.

After significant debate and further investigations, your Trust Board has decided that the best route for securing the financial future of the Club is to move to a position where external investors own a majority of the shares, with the Trust owning a significant minority shareholding, being involved in the day-to-day running of the Club and having control over items such as team colours, crest and where the team plays. We have therefore continued our discussions with one of the investor groups and feel it is time to introduce them to you.

The investors concerned are Bill Luby and Jim Collis. Bill and Jim are American financial professionals with tremendous experience in sports especially football. We have known them for some time and are impressed not only with their acute understanding of the business of football, but also with their sensitivity to fan ownership and of the Trust’s continued participation in running the Club going forward. In addition, they appear to us have the financial wherewithal to continue to carry forward the Club with the aspirations of becoming a stable, secure and competitive League 1 club and even, in time, competing at a higher level. We will continue to carry out due diligence on them, but our current view is that they will be valuable partners and proper stewards for the Club.

If this plan is to be implemented, the approval of 75% of Legacy Members will be required, and a formal meeting and ballot will be held in due course. However, to start the process, we have invited Bill and Jim to join us for our home game against Oxford on Tuesday 6th November. We will then hold an informal evening at Adams Park on Wednesday 7th November to introduce them to Trust members and to give everyone an opportunity to say hello in person and to ask questions in an informal setting.

It must be stressed – this evening is designed to help us get to know them and to have them begin to
get to know the important stakeholders at the Club. There will be no formal presentations or votes
that evening, as these will take place at a future date once the formal process has been agreed.

The evening will be held in the Caledonian Suite, starting at 7.30pm, and doors will open at 6.00pm with food being available before the meeting starts.

This is the start of a hugely important part of Wycombe Wanderers’ history. The Trust board is very excited about the potential relationship with Bill and Jim and I would encourage all members, whether or not they are Legacy Members, to attend if they can. We plan to live stream the meeting again as we did for the last Members meeting for anyone unable to attend in person. More information on the streaming details will be forthcoming.

Trevor Stroud
Chairman

Oct
21

Trust Matters – Saturday 20th October

These articles first appeared in yesterday’s matchday programme – ‘Parklife’

Meet your Trust Board: David Roberton

Having spent my working life in the Pharmaceutical and Nutrition industries, I now have time in retirement to give something back to my favourite pastime football, and in particular to Wycombe Wanderers.

I’m proud to be on the Boards of both WWSET and WWT and I look forward to helping both organisations develop their future activities for the benefit of the Football Club and the community of High Wycombe.

During my time as a Trust Director I had the opportunity and privilege to represent the Trust on the Board of WWFC and for part of that time I was involved in the signing of players including Paris Cowan Hall, Joe Jacobsen and Sido Jombati, who are still with the Club.

At most home games you will find me working behind the “Ale festival” bar in the Vere Suite if you would like a chat.

Wycombe Wanderers Ladies.

Two years ago David Roberton was given the task (not really a task!) of integrating a Ladies football team into the Club structure. The first season was 2017/18 and the team finished in mid table.

However for the 2018/19 season we now have three teams representing Wycombe Wanderers, namely one Ladies team and two under 18 girl teams. Currently the Ladies are unbeaten and top of their League, whilst one of the under 18 teams is also unbeaten and top of their League, whilst the other under 18 team are third in their League.

We are making progress and it would be nice to see a few Wycombe supporters attend a match or two, you might be surprised at the standard of some of the football played. You can also follow them on Twitter @wycombeladies

Notes from Trust Board Meeting 24.9.18

  • Cash flow end Oct/Nov tight.
  • August actuals vs Budget to be circulated w/c 1st Oct for review and comment by Board members.
  • WWFC accounts audit almost complete, aim is to sign off at Club board 8th Oct and distribute to WWFC Shareholders soon after.    WWSGL audit nearly complete.
  • Legacy members now at 566. Action to contact 815 STH, who are not Trust members but have held season tickets for 4 consecutive seasons. They are eligible to become Legacy members once they join the Trust.
  • Fans attendance up 5% so far, bar and shop sales also up.
  • Reading FC contracted to play at AP for 2 more years and will contribute to pitch renovation costs.
  • Chairboys Funders Board meeting 6th Oct. John Bartlett was ratified as its Finance Officer, replacing the retiring Reg Rundle. Many thanks to Reg for all his work for CFF. Teresa Sleven appointed as new CFF Chairperson. Accounts signed off.
  • Fans Council feedback to be added to Board Agenda as a regular item.
  • Further discussions have been held with investors as per the Future Steps outlined at 12th Sept mtg. The aim is to be able to advise Trust members of latest status within the next couple of weeks.

Why the Trust Matters

Trust ownership has given the Club a level of stability that had been lacking previously. The Trust, a volunteer led, democratic organisation, passionately believes in the preservation of the heritage and history of our Club and seeks to share it with the wider community. The Trust is not constrained by the whims of individual Directors or owners.  All Trust members are equal and anyone can be elected or co-opted onto the Trust Board and, from there, onto the Club Board. The Trust’s annual subscription of £10 per annum makes Trust membership accessible to all. If you would like to join the Trust, or if your membership has lapsed, now is a good time to join. Contact John Bignell at johnbig@btinternet.com or come to the Trust table in the Caledonian Suite on home matchdays.

Trust Matters Feedback

If you have any queries about Trust Matters or if you would like us to consider adding something to the next edition, please contact Trust Matters editor, Nigel Kingston on nigel@ascom.net 

Oct
18

Become A Legacy Member

The Trust, working together with the Fans Council, has identified that there are a large number of supporters who are in their fourth consecutive year of holding a WWFC Season Ticket but who do not hold the status of being a Legacy Member.

Equally there are Trust members who are not Legacy members because they are not a holder of a full Season Ticket for the past four seasons. Unless, by renewing your season ticket for 18/19, you then become a ‘four- year’ ST holder, in which case you become a Legacy Member with the voting rights defined below.

Under the Trust’s Rules, a Legacy Member has the following voting rights on:

      • any decision to sell, transfer or otherwise dispose of Adams Park;

     

      • any decision to sell, transfer or otherwise dispose of shares in the Club that would result in the Trust’s shareholding being less than 50% +1;

     

      • any decision to sell Club memorabilia; and

     

    • such other decisions (relating to the history and character of the Club) as the Board of Directors may reasonably determine from time to time.

If you are not a Trust member but have held a full Season ticket for the past four seasons and have or even have not received an email inviting you to join the Trust, then you can join the Trust by picking up a form from the Trust Table in the Caledonian Suite on matchdays or by downloading a copy of Membership Form 2019 which, when received together with your membership fee for the coming year, would result in your becoming a Legacy Member with the voting rights defined above.

Your Trust wishes to encourage you to join the already 810 strong Trust members who are also currently Legacy Members, with the aim of ensuring that the Football Club achieves its’ true potential.

The Trust, but more importantly, THE CLUB needs you!

Sep
29

Trust Matters – Saturday 29th September 2018

The following was published in today’s match programme ‘Parklife’:

Meet your Trust Board: David Smith

David started supporting Wycombe Wanderers in 1999, prompted by his daughter’s growing interest in the game. While she went on first to be a mascot in the 2000/01 FA Cup run, and then to play for the WW Ladies team, he became a keen supporter of the Blues.

A trust member since May 2012, David is a passionate believer in the fan ownership model, although since becoming a director of the Trust in 2016 he has found his ideals tempered with a heavy dose of reality.

He is full of admiration for the time and commitment invested in the club over the years by the directors of both the Trust and the club itself and felt privileged to be elected to the Trust. He was subsequently appointed Corporate Secretary of the Trust.

David qualified as a solicitor in 1981. He is a partner in a City firm of solicitors and hopes that his more than 35 years of experience advising private and public companies on, among other things, the legal aspects of financial matters will be of benefit to the Trust, particularly in the current discussions regarding the future financing of the club.

Andrew Howard to Leave Wanderers

Sporting Director Andrew Howard has decided to resign from the Football Club Board at the end of October. He came into the Club in 2014 as Chairman, when it was in a parlous state after almost going out of the Football League at the end of the season. Since then he has been instrumental in changing the fortunes of the Club and putting it back on the road to sustainability. He has worked closely with Gareth Ainsworth over the last four years, which culminated in our promotion to League 1 at the end of last season.

The Trust would like to put on record its huge appreciation of everything that Andrew has done for the Club. We are grateful for the time, energy and effort he has put in, often to the detriment to his own business and his personal life but are pleased to know that he will be continuing his involvement with the club both as a sponsor and a supporter.

Notes from Trust Board Meeting 30.8.18

  • Working to improve cashflow in 4th quarter.
  • July actuals close to budget figures (excluding player income).
  • WWFC accounts audit in review stage, aiming for sign off in October. WWSGL audit moving to review stage.
  • Legacy members list being constantly updated.
  • Kiosk outsourcing confirmed, will start mid-September.
  • Number of volunteers for car parking/programme selling increased.
  • Work to improve/update Trust website agreed on a volunteer basis.
  • AGM fixed for 29th November

Why the Trust Matters

Trust ownership has given the Club a level of stability that had been lacking previously. The Trust, a volunteer led, democratic organisation, passionately believes in the preservation of the heritage and history of our Club and seeks to share it with the wider community. The Trust is not constrained by the whims of individual Directors or owners.  All Trust members are equal and anyone can be elected or co-opted onto the Trust Board and, from there, onto the Club Board. The Trust’s annual subscription of £10 per annum makes Trust membership accessible to all. If you would like to join the Trust, or if your membership has lapsed, now is a good time to join. Contact John Bignell at johnbig@btinternet.com or come to the Trust table in the Caledonian Suite on home matchdays.

Trust Matters Feedback

If you have any queries about Trust Matters or if you would like us to consider adding something to the next edition, please contact Trust Matters editor, Nigel Kingston on nigel@ascom.net