A PROPOSAL to rescue Wycombe Wanderers’ youth academy has collapsed this week for financial reasons.

A group including parents of academy players had tried to spark an 11th hour bail out to keep the club’s youth set up going.

However, it is understood they have had to admit defeat after a closer look at the costs involved.

It might not be completely terminal for the rescue package though.

The parents group put forward their proposals to other parents of academy players at a meeting at Adams Park on Monday and were well-received.

It is understood discussions might yet continue.

A Wanderers statement said: “Wycombe Wanderers can confirm that the club’s position regarding the closure of the Centre of Excellence has not changed.

“The club were aware of an exploratory proposal presented on Monday at Adams Park. However, we regret to confirm that the decision to close the Centre of Excellence taken by the club and Wycombe Wanderers Trust will not be reversed.”

Wanderers announced they were scrapping their youth academy three weeks ago after the Football League announced the introduction of the Elite Player Performance Plan.

Under rules of the EPPP, a £70,000 cap will be imposed on transfers of academy players Wanderers were one of 22 clubs who voted against the EPPP last October.