Wanderers could have to sell training ground (From Bucks Free Press)
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Wanderers could have to sell training ground
6:39pm Tuesday 26th February 2013 in News By Andy Carswell
WYCOMBE Wanderers may have to sell their training ground in a bid to stave off the threat of administration.
A group of supporters has offered to buy the club’s Booker training base for £350,000 and lease it back to Wanderers.
The club’s Supporters’ Trust, which took over the running of the club in the summer, says it urgently needs to raise quarter of a million pounds to plug a financial black hole.
They have warned going into administration – and the team being docked ten points – is a possibility unless an urgent input of cash is found.
The Trust has said the group interested in buying the training ground have asked to remain anonymous as part of any deal, although they have said none of the would-be investors have any links to previous owner Steve Hayes.
One of the group is a Trust member, they added, but not a director, nor is anyone a member of the Frank Adams Legacy Limited, a body set up to safeguard the future of the club at Adams Park.
Members of the Trust board were asked why the sum could not simply be lent to the club. The Trust responded: “We have been trying to secure a loan for some months without success. The proposed arrangement offers security to the investors and suits our immediate needs.”
The club will have the option of buying back the training ground in five or ten years’ time.
Supporters’ Trust members are being asked for their views on a potential sale before a final decision is made.
If the ground is sold it will not be subsequently sold again in the meantime and the club will have exclusive rights to use the facility, the Trust added.
Comments(12)
mooneysmagic
says...
7:32pm Tue 26 Feb 13
billsheppard
says...
8:06pm Tue 26 Feb 13
billsheppard
says...
8:11pm Tue 26 Feb 13
johnymac wrote:Absolute rot. Hayes's mismanagement of WWFC (and Wasps for that matter) brought both clubs to their knees. Indeed, Hayes put WWFC into administration before the supporters' trust had to cancel it as they were completing the take over.
Trust should have never been allowed to buy a club they couldn't control. begging for money every month is getting ridiculous like it or not we WERE safe with hayes more so than now. these people are a joke!
The scale of the club's issues are to do with the mismanagement of Mr Hayes and the legacy contracts in place that the trust cannot do, not to mention banks refusing to lend to us because of the ongoing legal proceeding against Mr Hayes blacklisting companies he has been associated with.
'johnymac', If you insist on having sugar daddy fantasies, please do not live them out through Wycombe Wanderers FC again. Thanks.
djwyc14
says...
8:18pm Tue 26 Feb 13
At least the Trust are trying to run the club sustainably. It is proving difficult (as changing a Football Club from losing over 1 million a year into breaking even is a challenge!) - but at least they are trying to secure the future of the club. Unfortunately, the past legacy that Hayes left is making this season and probably the next one or two quite painful with a number of cuts needed. We should not be thanking our previous owner for his role in how this football club now stands.
djwyc14
says...
8:22pm Tue 26 Feb 13
However, the Trust need this money urgently, and presumably this is the only / best deal on the table so little choice but to proceed. Doesn't matter what I think anyway as the decision has already been made.
The next question that needs to be asked is where the £500k that the Trust need for next season's cash flow is coming from.
The Trust have their hearts in the right place and are trying to create a sound financial model and attract sponsors and investment. Time for the local community to wake up and help its local football club and secure its future. After all, it has been around for 125 years now and is one of the main sources of pride in the area.
realist_highwycombe
says...
10:35pm Tue 26 Feb 13
Wycombe greater area has around 160,000 people - not to mention the many other thousands of people livign in Aylesbury, Chesham, Amersham etc who could also come to watch league football.
To average around 5,000 people (if that) to home games even when in League 1 is not good enough and unless some major changes are made the club will continue to loose money.
More off the field revenue sources need to be looked at - A lack of quality gyms in the sands/west side area of Wycombe could be a great place to start - a professionally run establishment could turn a good profit and enhance its links with the community.
They have scores bar yet it is not very well known in Wycombe and apart from matchdays is only open between 12-2pm Monday - Friday. Open it up, organise dinner & dance events, fine dining etc.
We are in tough times but you need to think outside the box to make money 24/7 not just on match days and pre season.
I wish them all the success they deserve but I am not massively hopeful....
J B Blackett
says...
12:05am Wed 27 Feb 13
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So it's probably not the players or manager , training staff and maintenance etc - but even that's a £million++ per annum taken away from the firm.
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To make an operating profit it will be difficult for a Div 2 club these days , so whatever assets they have may have to be sold off. And that includes promising players.
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Either that or win lots of matches and get promoted - but then the salaries will inevitably go up. It would appear there are only a small handful of teams (ie commercial sporting organizations) who actually made a profit last year - and they were all in the Premier / Championship.
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Hayes was a disaster ( and backed by some rather naive or dodgy Wycombe councillors (allegedly) .
But what to do now ? Surely this club (and others) won't fade away.
Wycombe Res
says...
8:16am Wed 27 Feb 13
Flashheart
says...
1:48pm Wed 27 Feb 13
Sad sight, and I'm an eggchaser! (No, not "London" Wasps, before anyone comments...)
I Love Ivor
says...
2:58pm Wed 27 Feb 13
Jock's little helper
says...
1:13pm Thu 28 Feb 13
I don’t expect all the townsfolk to suddenly start packing out the ground out but it would be nice to see some of the 30,000+ who went to Wembley (2 times) and Villa Park or some of those who travel up to London each weekend to see the over inflated premiership turn up and show their backing for THEIR local club in its time of need – don’t let a 125 years of local pride disappear!
johnymac says...
6:54pm Tue 26 Feb 13