UPDATED: Wanderers and Wasps confirm they are 'backing Booker' for stadium

The clubs, owned by Steve Hayes, hope the project can be sited at Booker Air Park – which has long been thought of as the front-runner to house the proposed development.

Wycombe Sports Developments Ltd, the organisation set up by the Blues and Wasps to oversee the project, say it would give Wycombe a “state of the art stadium at the heart of a wide ranging sports village” at a press conference at Adams Park today.

The stadium itself would have a 17,500 – 20,000 capacity, and would also include a cricket pitch, five-a-side pitches and athletics facilities.

New commercial space, a hotel and connected residential development could also form part of the project, should the clubs' wish become reality.

He told today's conference that he hoped Wanderers and Wasps could be playing in the proposed new stadium in the 2014/15 season.

Mr Hayes said: “We launched a vision in March for how we want to develop new facilities that would be really exciting, would help us build a successful and sustainable future in Wycombe, and provide tremendous benefit for the clubs, fans and community.

“We are all clear on how we can best achieve that – by building a community stadium and sports village at Wycombe Air Park at Booker.

“We want to move forward and investing in a new community stadium and sports village means the clubs can develop their playing and non-playing sides – as well as deliver a sports hub which will significantly improve what's available locally.

“This is about building something in Wycombe that we can be proud of, that will deliver a major boost to the community and which will provide a lasting legacy.”

Mr Hayes said at a charity event on Sunday, ahead of the official announcement, that Booker was to be the clubs' preferred location.

Wycombe District Council longlisted 19 sites for consideration, before whittling it down to three short-listed sites – Booker Air Park, Abbey Barn and Adams Park.

A public consultation is currently under way with a decision expected in the New Year.

But WSDL's Ben Copithorne dismissed suggestions that today's announcement was disregarding the council's public consultation.

He said that WSDL hoped the announcement would inform residents about the clubs' needs and thoughts on the project when residents fill out the consultation forms.

He added: “This initiative by the council aims to engage local people and find out what they think about the options put forward by the council.

“WDSL and the clubs, as consultees, are contributing by being clear about backing Booker and providing details as to why it is the best site – it does not mean a final decision has been taken.”

According to a financial report by financial advisers Grant Thornton (see link), the new stadium will cost more than £67m – but WSDL director Mark Rigby said the firm came up with “some very hairy numbers”.

He said: “We feel the project doesn't need to be as big as that in terms of size, nor does it need to be as expensive as £78m to £90m.

“We have indicated that we would be contributing something like £25m to £30m into the scheme and that is based on some very broad, brush business plans, post-completion.

“I have to emphasise the broad phrase at this stage, but it feels as if it is fundable based on that level of contribution and we do talk about the site being able to accommodate some sort of enabling development which would be part of the funding mix.”

WSDL would not be drawn “at this stage” on full funding details.

WSDL with WDC at the stadium plan launch in March.

But in an accompanying document provided at the press conference, WSDL said it has agreed to work in partnership with the council 'to share costs' – but further details are not specified.

It states: “Detailed financial modelling is yet to take place as no site has been selected and the final form of the proposed stadium development has not yet been agreed.

“However, WDC and WSDL have agreed to work in partnership to access the viability of potential new sites and, if the council decide to proceed, any financing agreement for a new stadium would also involve partnership work.

“The agreement signed sets out the scope and parameters for joint working.

“It also allocates costs to this process for a period of work during which costs will be shared between the council and the clubs.

“This aspect of the council's participation is quite separate from its planning role.”

Wycombe District Council will hold a press briefing on the stadium plans later today.