THIS story was updated at 11.23pm.

WYCOMBE Sports Developments Limited has tonight reacted with disappointment to the decision by Councillors to axe the stadium project.

Read the response on behalf of the clubs below.

"Wycombe Sports Developments Limited (WSDL) is clearly very disappointed with Wycombe District Council’s (WDC) decision tonight to end its partnership with us.

WSDL’s outline business case sets out a sustainable plan which delivers long term economic and social benefits to the whole area.

The Wycombe Sporting Village creates at least 400 new jobs in the area, generates at least £125million worth of social benefits over the next 25 years, produces a projected £12.5m of rent receipts for WDC over 25 years, secures professional sport in Wycombe, provides affordable housing and offers world class leisure and recreational facilities for the community.

It also opens up currently inaccessible green space to the public for recreation.

We respect the democratic process.

Tonight the public have raised questions about the Council’s decision making process and these questions should be cleared up.

In the coming days we will seek to understand more fully the basis on which the Council has made this decision.

Our commitment to both sets of fans and to our loyal and hardworking staff remains as strong as ever.

We will keep you fully informed every step of the way as we examine the implication of the Council’s decision.

We will continue to leave no stone unturned in endeavouring to secure the best possible future for professional sport in Wycombe, for the benefit of all in the community.

The Council's decision tonight represents the potential loss of a golden opportunity to build towards a better future for Wycombe.

Despite their decision, our belief in the Sporting Village remains. To all the many people across the district who have understood the need, seen the opportunity, shared our vision and given us support, we thank you.

Tonight we will reflect on the Council's decision. We will comment further in due course."