Wanderers are tonight hoping to ratify a community share scheme that could pump £2million into the club over a five year period.

The proposal was set to be discussed at the Wycombe Wanderers Trust AGM which was being held as we went to press today.

Under the proposed plans the trust aim to raise £2 million with the funds going towards specific projects such as upgrading the floodlights at Adams Park and contributing to the club’s working capital, according to chairman Trevor Stroud who also stated that the scheme “isn’t a player recruitment fund”.

The share scheme idea was first floated in March 2014 shortly before the collapse of a proposed takeover in May last year.

The trust has since changed its status from a company limited by guarantee to a community benefits society which has allowed them to introduce the scheme which invites people to pledge one-off sums, or monthly or yearly amounts in return for shares in the trust.

Their new status means that the trust operates to a different set of rules – which Stroud says are “broadly the same” – as opposed to its status as a non-profit organisation in its previous form, and they must also hold their AGM earlier than before.

The trust is working closely with a group called Supporters Direct, who have helped introduce similar share schemes at fellow League Two side Portsmouth and conference outfit Wrexham where fans have pumped money in to give the club working capital.

Each share of the two million being sold is worth £1, and there is no minimum amount which a supporter can pledge. There is however a maximum contribution of £100,000 per person and despite the trust owning the club the shares are completely separate and only secure a stake in the trust.

The scheme is open to pledges from anyone who wishes to make a financial contribution to the club and not just people who live in Buckinghamshire or have ties with the club.

When questioned by the Bucks Free Press on how much money the trust has already been pledged Stroud said: “We’ve had pledges in the region of £300,000 – that’s for pledges that have been made before the share scheme has been launched.

“Obviously we’re hoping that there will be more pledges. Until people see a formal document, which will be launched on the 19th (March), then you wouldn’t necessarily expect people to pledge the money.”

It is understood that in the event of the football club being sold those who have pledged money will be refunded in full, according to the indication of interest form which must be filled out and returned to the trust.

Even if the club remains in the hands of supporters those who have pledged money will still be able to apply to withdraw the amount that they’ve contributed but it must first be accepted by the board before a refund can be processed.

If purchasers wish to pass their shares to family members then they must also have permission from the board to do so.

As the shares are being sold for a stake in the trust and not the football club, so those who own them will not be financially liable should Wycombe Wanderers go out of business but they will have no say in the running of the club.

Stroud said: “There’s no guaranteed return but there isn’t in any share issue. There is the facility for a rate of interest to be paid, which I guess, in fairness, is likely to be nominal.

“I don’t want to over-play this as the best investment of the year, but on the other hand it’s not a donation.”