New dawn for Wycombe as supporters regain control
Wycombe Wanderers Trust have announced their successful acquisition of Wycombe Wanderers Football Club Ltd.
The supporters' organisation take the reins from previous owner Steve Hayes who seized full control of the club in 2009 but was thwarted in his attempt to build a new stadium and associated development.
The Trust have released some of the terms of the takeover with the promise of further details early next week.
Significantly, the deal sees the Trust acquire Adams Park and the training ground along with the club itself.
The fate of millions of pounds worth of loan notes owed to Hayes is not yet clear.
The Trust will form a holding company which will control two separate subsidiary companies; 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.
The overdue accounts will be signed off and submitted next week which will see the transfer embargo lifted and allow manager Gary Waddock to bring in new players.
The Trust's aim is for the club to live within its means.
Vital will bring you more as the details become available.
The Trust's statement can be seen in full by clicking here
Win FREE pizza with Vital Football!
Select your team and get 50% off if they score twice.