In the second of our series of articles looking at developments involving Trusts affecting other clubs, today we look at the announcement made at Wycombe on Friday 29th June.
“Wycombe Wanderers Trust Ltd, hereafter referred to as “The Trust”, is pleased to announce that it has succeeded in completing the acquisition of Wycombe Wanderers Football Club Ltd.
In a deal of significant value, the Trust has acquired the Ground, Training Ground and Club, and is delivering the long term protection of the generous Frank Adams gift. Both Frank Adams Legacy Limited and Wycombe Wanderers Football Club Ltd start the 2012/13 season with positive Balance Sheets.
Trust Chairman, Trevor Stroud commented: “The Trust is delighted to take control of Wycombe Wanderers, especially in the club’s 125th anniversary year. The plan is to work to a break-even model which will secure a sound financial footing for the club. I would like to express our appreciation to Steve Hayes for the considerate and constructive approach he has taken throughout the acquisition process”
Steve Hayes responded: “I’ve thoroughly enjoyed my time, firstly as managing director and then as owner, and my support for the club will continue to be just as passionate as ever. I’m extremely confident that the club are in the best possible hands and wish the Trust every success in control of a club which I hold close to my heart.”
Under the deal that has been agreed, the Trust will form a holding company, which will control two separate entities, the Wycombe Wanderers Football Club, which will run the footballing operations and Frank Adams Legacy Ltd, which will be responsible for Adams Park, the Training Ground and the heritage aspects of the club.
More details are being provided at Trust members meetings on Monday 2nd & Tuesday 3rd July”
If you want to keep track of this story visit http://www.wycombewandererstrust.com