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Update on Agreement with Rob Couhig

A joint statement from Rob Couhig and Trevor Stroud

After three months of finalising the deal which will enable Feliciana EFL Ltd to take a majority share in Wycombe Wanderers, it was hoped that the situation would conclude this week.

While the bad news is that it will not be finished on our time schedule, it is proceeding reasonably quickly, particularly given the number of parties and agreements that must be completed. In addition to Rob Couhig and his investment vehicle, Feliciana EFL Ltd, there is Wycombe Wanderers Football Club, Wycombe Wanderers Trust, Frank Adams Legacy Limited, various lenders to the club, the owners of the training facility, and, of course, the EFL itself, who are all involved in these discussions. We are both confident that completion will take place fairly soon.

The really good news is that everyone is working cooperatively and no real issues of significance have arisen. While it is possible that it could have been finished in the next several days, we will have to take a small break in our work in order to allow Rob to have his hip replaced.

While he has tried Darius’s diet of mangoes and papaya, his doctor has told him it is time.  In fact, he already delayed the surgery twice in the past two weeks in order to try to complete. It was impossible to put it off again and Rob will undergo surgery on Friday. He promises immediate recovery but science says it’s going to take a couple of weeks.

During this transition phase, we have continued to work collaboratively for the benefit of the club. With the help of the Trust, we were able to sign Darius last Friday. This week, we have worked with Gareth on possible additions to the squad. Importantly, with the assistance of Feliciana, we feel comfortable that our Salary Cap Management Protocol allowance has increased.

Pete has been fully engaged in all aspects of the club’s business and will continue to provide leadership and assistance to everyone involved with the club on and off the pitch.

Everyone remains encouraged and excited. We will let you know as matters proceed.


Members Update – Friday 10th January

Further to our previous communications about the completion of the deal with Rob Couhig, who is acquiring a 75% share in the football club, I can update you that we are in the very final stages of finalising the documents relating to the agreement.

The deal will not be completed today, as previously suggested, but it is expected to be finalised early next week and we will update you once this has been achieved.

We look forward to seeing as many supporters as possible at Sunderland tomorrow, and then back at Adams Park next weekend for the visit of Rochdale.

With best wishes
Trevor Stroud


Seasonal Update from Trust Chairman

As we approach the Festive period, I thought I would give you a brief update on where we are with the agreement with Rob Couhig.

The Legal agreement and the new lease between WWFC and FALL are agreed, subject to some very minor issues and it is planned to complete the deal on 10th January 2020.

This means that the Coventry and Ipswich games will almost certainly be the final two games under Trust control and the end of an era. It is great that we will start the new decade at the top of League 1, our highest ever league position and a perfect position to hand over control.

The Trust will retain 25% of WWFC after the deal is completed and the role of the Trust will change from ownership and control, to minority shareholder, supporting the new owners and raising funds to be able provide 25% of any funds needed going forward, to avoid dilution of our shareholding. Or in other words: – Protect the Quarter.

We have also been informed by Rob, that Mark Palmer will not be involved with his team on a day to day basis, to allow him to pursue other opportunities in the Football world. He will still be involved with WWFC in the background, and I would like to thank Mark for his hard work on behalf of Wycombe Wanderers over the last 6 months. An update of the new structure will be published post completion.

At a recent Trust Board meeting, it was agreed that due to potential conflicts of interest, the Trust Chairman should not sit on the Football Club. To ensure continuity during the change of ownership period, David Cook and myself will stay on the Football Club board and therefore as a result, I will stand down as Trust Chairman as soon as the deal is completed. The Trust Board held an election last week, and it was decided that Nigel Kingston will take over as Chairman, with Peter Lerner as his Vice Chair. I consider Nigel a worthy successor and wish him and Peter every success and pledge him my full support.

I hope you and your families have a very happy Christmas and let’s keep our fingers crossed for a continuation of our good form in 2020.

Best regards



Commemorate Seasons 2018-19 and 2019-20

Last season was our first for a while in League One and despite a dip in results in the second half, the Chairboys were able to finish the season in a very respectable 17th place.

Terry’s Badges now have a few commemorative frames with all the Matchday Badges for last season and these are now available for the price of £100. Please see Terry or Dave at the badge stall this Saturday.

If you just want an empty frame in which to store your own badges, then these retail at £22 and again should be ordered from Terry.

If you want either of these for the current season, then please get your order into Terry as soon as possible and he will supply once the season is finished.


Finance Forum – Tuesday 10th December at 8pm

As previously stated and confirmed at the recent Trust AGM, a Finance Forum will be held on Tuesday 10th December starting at 8pm in Monty’s Bar at Adams Park.

This is for those with a keen interest in the finances of the Trust and its subsidiaries (Wycombe Wanderers Football Club “WWFC” and Frank Adams Legacy Limited “FALL”) to ask questions that weren’t asked at the Trust AGM.

The Group Treasurer Martyn Broughton will be in attendance along with the other members of the Group Finance Committee and some of the Club and Trust Directors.

The end of year accounts for Wycombe Wanderers Supporters Group Ltd “WWSGL” and for FALL have been audited and signed off by the respective Boards and are attached here for reference WWSGL Stat Accts 30Jun19 and FALL Stat Accts 30Jun19

Whilst the audit for WWFC has finished, the end of year accounts are not yet signed by either the auditors or the Club Board. However we will be able to discuss the WWFC figures that were revealed at the Trust AGM and give answers using management accounts based on the completed audit, which agree with the information in the WWSGL report that has been signed.

We look forward to seeing those of you who wish to attend, on Tuesday night.


Report from 2019 Trust Annual General Meeting – UPDATED 19.12.19

The minutes of the Annual General Meeting held on Wednesday night have been sent to Trust Members or can be viewed here 2019 AGM Minutes

Attached here WWSGL AGM 27 NOVEMBER 2019 are the slides used in the meeting which include the Group Treasurer’s Finance Report.

It is planned to hold a Finance Forum on Tuesday 10th December at 8pm in Monty’s Bar for those wishing to have a more detailed insight into the Finances of the Trust, the Club and FALL.

With four candidates to fill that number of vacancies on the Trust Board there was no need for formal elections but the members present (plus submitted proxies) endorsed Lisa Bowker and John Jewell as new Directors of the Trust with Alan Cecil and David Roberton (who both had retired by rotation) being re-appointed.

Lawrie Read and David Smith have stepped down from the board, and we thank them for their fantastic efforts.

The Trust Board Page (via link at the top of this page) will be updated shortly.

After the interval, the Head of Wycombe Wanderers Sports and Education Trust (“WWSET”) Paul Foley have the audience an enlightening insight into the many varied programmes being run by WWSET, more details of which can be found on their website www.wwset.co.uk  Paul’s own slides can be viewed here Trust AGM – WWSET Presentation (Nov 2019)


Annual General Meeting of Wycombe Wanderers Trust – Wednesday 27th November

The Annual General Meeting of Wycombe Wanderers Trust will be held on Wednesday 27 November 2019 at 7.30pm in the Caledonian Suite (previously the Vere Suite) at Adams Park. The venue will be open to members from 6.00pm; food will be available, along with complimentary tea and coffee and the bar will be open.

Click below for the documents for the AGM:

Minutes 2018 AGM

Calling Notice

Proxy Form

Trust Accounts for year to 30 June 2019

AGM Nominations

In accordance with the Trust’s Rules, one third of the current Trust Board is required to retire. Alan Cecil, Lawrie Read, David Roberton and David Smith are therefore retiring from the Board; Alan Cecil and David Roberton are offering themselves for re-election and Lisa Bowker and John Jewell are seeking election. 

The four nominees will be in the Caledonian Suite from 1.00pm on Saturday 23 November 2019, prior to the Doncaster match, should you wish to meet them. 

If you are not able to attend the meeting, you can appoint a proxy to attend and vote on your behalf and, if you wish, instruct your proxy how to exercise your vote. Proxy forms are included for completion and return. 

I’m delighted to say that, following their impressive debut at last year’s AGM, we have arranged for the Club’s charitable arm, Wycombe Wanderers Sports & Education Trust, to attend the meeting and give a presentation about their activities. 

I hope to see you on Wednesday 27 November.
Trevor Stroud,


Renewal of Trust Membership Subscriptions

Most Trust Members have kindly agreed to pay their subscription by bank standing order which is currently the easiest way for us to receive and record those payments.

The majority of members have signed up to renew each year with a payment made on 1st November, though historically some have always paid on the 1st October and we are happy for that to continue.

Those who prefer to pay by cash, cheque of single bank transfer may continue to do so and Trust Directors will be willing to receive any such payments at their table in the Caledonian Suite prior to any forthcoming home game. We now have a Worldpay card machine and subject to getting a wifi connection are hoping this will work.

If you wish to renew by bank transfer then please make your payment to the WW Trust account at Sort Code 40-24-38 and account number 81390031 quoting your membership number and your name.

We hope all current members will renew but it is especially important that those with Legacy Membership qualification ensure their subscription is paid in order that they continue receiving the voting rights that go with that special status.

Anyone wishing to join the Trust needs to complete Membership Form 2019-20 v1

Many thanks


Final Vote Outcome Revealed

We have now received the official report from Civica Election Services, regarding the vote to allow Wycombe Wanderers Trust to sell a majority stake in Wycombe Wanderers Football Club, the details of which can be found here.

As you will see from the results, an overwhelming majority of you voted in favour of the motion to allow Rob Couhig to purchase 75% of the voting and non-voting shares currently held by Wycombe Wanderers Trust.

We are currently working on the final legal issues, and will announce a completion date as soon as possible.

Thank you for not allowing apathy to decide the future of our Football Club.


Legacy Members vote in favour of Rob Couhig’s majority shareholding

Threshold of 75% has been reached.

Wycombe Wanderers Trust are pleased to announce that the required threshold to approve the purchase of a majority share in the club by Feliciana EFL Ltd – which is controlled by Rob Couhig – has now been reached, and the formal process to finalise the sale is underway.

The board of directors of the Trust unanimously recommended the proposed sale to Feliciana and initiated a voting period for its Legacy Members (Trust members who have held a season ticket at the club for four or more consecutive seasons) earlier this month, requiring 75% of the Legacy Members to approve the sale in order for the deal to be ratified.

The Trust have been informed by Civica Election Services, the independent organisation which is coordinating the voting process, that the 75% threshold has been surpassed. Subject to receipt of formal confirmation from CES that the resolution has been passed, which can only be issued at the end of the voting period, and subject to final due diligence from both parties, financial clearance from the EFL, and approval of Mr Couhig and his three fellow nominated directors through the EFL’s Owners and Directors Test, Feliciana will become the owner of both 75% of the club’s voting shares and 75% of the ordinary non-voting shares.

In return, Feliciana will invest £2.2 million to settle all outstanding debts, and support working capital needs at the football club. All charges currently held against Adams Park will be lifted, and the stadium and club memorabilia will remain 100% owned by Wycombe Wanderers Trust’s subsidiary company, Frank Adams Legacy Limited (FALL).

Feliciana will make available an additional £1 million for working capital, and the club will enter into a new 15-year lease with FALL to use Adams Park, paying an annual rent of £150,000, subject to a discount in the first five years, and will be responsible for maintaining the stadium.

The new football club board will be comprised of Rob Couhig, Missy Couhig, Peter Couhig and Mark Palmer, alongside two directors nominated by the current Trust board, allowing influence and involvement in the decision-making processes.

Trevor Stroud, chairman of Wycombe Wanderers and Wycombe Wanderers Trust, said:
“This is a hugely significant step forward for the club and we are delighted that the Legacy Members have followed the Trust board’s recommendation to welcome Rob Couhig and his team into the club as majority shareholders.

“Rob has demonstrated real expertise, determination, integrity and ambition over the past four months since the Trust nominated him as its preferred partner going forward, and we believe that those attributes, coupled with his financial contribution, make him the ideal person to build on the progress that the club has made under supporter ownership in recent times.

“We look forward to completing the transaction and working with Rob to help build a strategy to develop the club on and off the pitch in the short and long term, and truly believe that the foundations are in place for Wycombe Wanderers to continue its upward journey through the football pyramid.

“Wycombe Wanderers Trust have been immensely proud to be custodians of the football club for the past seven years, but I believe we have reached the upper limit of what we can achieve in terms of the sustainability of the club going forward. We are extremely grateful to the contributions of all supporters and volunteers throughout that time, who have committed immeasurable time and effort, and I know that that very culture will continue to play an integral role in the club under Rob’s stewardship.

“My final message is to the Legacy Members who are yet to vote; while the threshold has already been reached, and we wanted to share this news with supporters as soon as we were able to, I would still like to encourage you to submit your vote to help us demonstrate to Rob the true level of support that he has from the membership.

“As both a supporter and chairman of Wycombe Wanderers, I am more excited than ever for its future, and wish Rob and his team every success.”

A statement from Rob Couhig will follow in due course.


Legacy Members Vote and Investment Agreement – Update

We understand that a high percentage of Legacy Members (“LMs”) have already voted on the proposal to proceed with investment into Wycombe Wanderers Football Club by Rob Couhig through his company Feliciana EFL Ltd, and we thank those LMs for doing so.

There is still time for others to vote, either via the email sent to them by CES or by postal vote, sent to those LM’s without an email address. Voting closes at midnight of Tuesday 29th October.

Some LMs have come into the club during last week or on Saturday to read through the draft Investment Agreement and the proposed new Lease of Adams Park. If any more LMs want to do the same, then please contact Trust Director Lawrie Read to book a mutually agreed time over the next 7 working days. Contact Lawrie on  07825 634489 or email him lawrieread@gmail.com 

Thanks to you all for your continued support of what we are trying to achieve – “Safeguarding our heritage and promoting a successful and sustainable future”


Chairman confirms Club and Trust’s position ahead of Legacy Members meeting.

Wycombe Wanderers chairman Trevor Stroud has reaffirmed the full support of the Club and Trust boards of directors for Rob Couhig’s proposed majority shareholding in the football club.

Ahead of the meeting of Legacy Members at Adams Park on Tuesday 15th October – at which point the vote to approve Mr Couhig’s proposal will open for a period of two weeks – Mr Stroud said: “The Trust board, as previously communicated, were in discussions with a number of interested parties in the summer, and after careful consideration, voted unanimously in favour of Rob Couhig’s proposal.

“Since reaching this decision in June, we have had no further contact with the alternative parties, nor have we received any formal offers other than Rob’s, and we have had no reason to doubt that our decision was the correct one.

“Our commitment to working with Rob and his team has only been strengthened over the past three months, as a result of the dedication, integrity and expertise displayed by him and his team which we believe will guide this club towards a more prosperous future.

“Rob has demonstrated his commitment from the outset, providing funds up front and agreeing to publicly enter into a period of engagement with our supporters, which no other party was willing to do at a time when the club was facing challenging financial circumstances.

“Without Rob’s financial contribution, the club would not be in position that it is now, and we remain fully focused on securing the approval of our Legacy Members for his proposal. We will continue to honour our obligations of confidentiality to all the parties who submitted proposals.”


Legacy Members Meeting on Tuesday 15th October at Adams Park

Wycombe Wanderers Trust are pleased to call a meeting of its Legacy Members, relating to the proposed sale of a majority share in Wycombe Wanderers Football Club to Feliciana EFL Ltd, owned by Rob Couhig.

The meeting will take place at Adams Park on Tuesday 15th October, and provides the opportunity for Legacy Members to discuss the proposal in detail, with a voting period commencing that evening and remaining open for two weeks, closing on Tuesday 29th October. Full details about the voting process, which is being managed by Civica Election Services (previously Electoral Reform Services) will be explained on the night, and communicated directly to eligible members.

Details of the proposal will be circulated via email to Legacy Members ahead of the meeting, and a hard copy of the offer in full will be available for Legacy Members to read in person at Adams Park between 10am and 5pm on weekdays, and from 12-2.30pm on the day of the fixture against Sunderland on Saturday 19th October.

Mr Couhig has taken the decision not to attend the meeting in person, in order to enable Legacy Members and the Trust board to have an open and honest discussion about the merits of the proposal and the options facing the club in the event of the proposal not reaching the required threshold of 75% in favour.

Rob will however be available at Adams Park and/or surrounding areas between Thursday 17th and Sunday 20th October to meet Legacy Members who wish to discuss the proposal with him in person; full details on this will be made available nearer the time.

All Legacy Members – which are Trust members who have held a season ticket for four or more consecutive seasons including this one – should have received an email or telephone call to confirm their eligibility to vote. Any member who has not received such contact, or has not responded to the email or telephone call, should email secretary@wycombewandererstrust.com, call the club on 01494 472100, or visit the Trust table in the Caledonian Suite ahead of kick-off at Saturday’s League 1 match at Adams Park.

The event on 15th October will be streamed live on Facebook for all Trust members in the WWT Live Stream group; however, only Legacy Members may attend the event in person.

Doors will open at 6pm, with food available to purchase and the bar open, with the event beginning at 7.30pm.


Watch the Fans Forum held on Thursday 19th September

Here is the link to the Fans Forum held at Adams Park on Thursday 19th September with Trevor Stroud (Chairman of WW Trust and of WWFC), Rob Couhig (potential investor) and Gareth Ainsworth (WWFC manager).

The forum was hosted by WWFC Head of Media Matt Cecil




WWFC Acquisition Update September 2019

As we are sure that you will know by now, Rob Couhig has been in discussions with the Trust to acquire 75% of the shares of WWFC, since late June. Those discussions have now reached the stage where the deal structure has been broadly agreed between the lawyers representing both parties. There are still a number of issues that need to be finalised and it is hoped that these can be agreed in the next two to three weeks.

Assuming that these are resolved in that time frame, then we would hope to get an agreement signed with Rob Couhig by the end of September. This will of course need to be ratified by 75% of Legacy Members voting in favour of the proposed deal. As soon as the deal is finally agreed a meeting of all Trust Members will be called to update them on the overall shape and details of the agreement and then the process of getting Legacy Members to vote will be started.

The Adams Park Stadium will remain 100% Trust owned. Neither the Club nor the Stadium will hold any debt, nor will the assets be available to be used as security. The enshrined rights will also be protected.

A Legacy Member is someone who has been a STH for four consecutive seasons, including this one and who is a member of the Trust. The cut-off date for becoming a Legacy member and being able to vote on the deal, is end of day on 21st September. Trust membership costs £10 and you can join by filling in the form on the Trust website, (Click Membership and Rules at top of home page) or visiting the Trust table in the Caledonian suite, prior to one of the next three homes games against Lincoln, Accrington or Portsmouth.

If there are any Trust Members that have any concerns that would prevent them from supporting this proposal, then please contact Trevor Stroud, trevor.stroud@wwfc.com or Rob Couhig, couhigre@couhigpartners.com in order to try to resolve them.

We hope that the Legacy Members will support this agreement when it is put to the vote, as we, your Trust Board, sincerely believe that it is the right deal to ensure the long term survival of the Football Club and to make certain that we continue the great start to the season that we have made in League 1.

There will also be a Fans Forum – open to all Wanderers fans – at Adams Park in the Caledonian Suite on September 19th, which will be hosted by Trevor Stroud, Rob Couhig and Gareth Ainsworth. This will be an opportunity for fans to discuss any issues relating to the Club, the Trust and the playing side of the business. Full details will be published later on the Club website. We look forward to seeing as many of you there as possible.

On behalf of the Trust Board