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Hayes: Let me own Blues

8:10am Friday 14th November 2008


STEVE Hayes has told Wanderers fans there is a way out of their £7.2m debt – give him ownership of the club.

The MD says he would be willing to convert his loans into shares in return for control of the League Two club.

The multi-millionaire, who owns a 25 per cent stake in the club, is also its biggest creditor with a further £5.85m invested in the form of loans.

Wanderers last week reported losses of £1.66m for the year ending June 30, 2008, and their total debt now outstrips their assets of £6.28m.

But Hayes says there is a way out.

He told the Free Press this week he would be willing to convert his loans into shares in return for ownership of the club if the supporters let him.

He said: “If they converted my debt into shares I would do it.

“I have suggested to the Supporters Trust that they need to move things forward and they are dragging their feet.

“I feel a bit untrusted. They are very happy to see new players come in but what they are saying is thank you very much but we don’t trust you any more than to give you more than 25 per cent.

“I’m controlling the club in every way possible but I’m not the owner. I’m the managing director.

“People didn’t trust me when I came in and some still don’t trust me now but I’m not sure that I have done anything to make people think that I’m in it to make money.”

At the moment he is restricted to owning just 25 per cent of Blues’ shares by the club’s constitution which prohibits any individual from owning more than that Wanderers would have to vote to change their constitution to allow Hayes to convert his loans into shares.

Ian Mather, one of the supporters directors on the board, thinks that might prove unpopular with some fans.

He said: “The trust and board would need to see a proposal for that conversion and consider any restrictions. The prime concern for any change has to be the long-term protection of the club.

“We would have to consider the long-term protection of the club because a good number of clubs have come unstuck when they’ve been under sole ownership.

“No-one is questioning Steve Hayes and his intentions but the only thing that is guaranteed in life is that none of us are going to be here forever and we have to guarantee the club’s protection beyond Steve Hayes.”


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George1, Wycombe says...
1:43pm Fri 14 Nov 08

For Wycombe Wanderers to continue competing at the level they are now and beyond, they need cash, that cash is not being generated through the turnstiles or with sponsorship, a scheme of phased ownership may be the way forward.
The worse scenario would be to go bust, like AFC Wimbledon and others, Wycombe could rise from the ashes, the town would not lose it's footballing heart, just a temporary drop in status.
To do nothing would result in the end of the club as we know it now.
The past glories weren't all that bad.

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Regular Poster, High Wycombe says...
3:14pm Fri 14 Nov 08

£7.2m of debt is not that much when you consider what other clubs owe in that league.
If they get promoted then I'm sure that this will come down over the next couple of years.
What WW might also want to consider is lowering the price of tickets on match days, it might bump the numbers up. It's too expensive for a div 2 club.

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George1, Wycombe says...
9:00pm Fri 14 Nov 08

Most pensioners stay away because of the cost, the club didn't bother to reply to five letters requesting a review of senior citizen pricing.
Wycombe's loss is non-leagues gain.

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Ribbit, Seattle, WA, USA says...
9:20pm Fri 14 Nov 08

I say go for it. It is still my opinion that the relegation several years ago was caused by a certain individual who was so concerned about the debt, he started selling off the best players and asking the other players to take a temporary pay cut. When that happened, they started loosing and of course when you loose you blame the coach. So they fired Sanchez. They got relegated. They hired in Big name stars as Coach and they did as much as they could with the meager budget they had but have not been able to promote up. After a season or two, the coach would quit because Management would not honor their commitment to free up some money to get better players. I believe that Hayes has the best interest of the club in his mind and will do whatever he can to see that they suceed. It is not Hayes that won't release the money. Another thing is that you have to spend money in the right places in order to make money. The results are not immediate but future. Ask another question - what is the club doing with all of the extra money they get from TV revenue and cup runs? In my humble opinion it all falls on Beeks. Since nobody can get rid of him, then the next best thing would be to let Hayes take control, get the club out of debt, and then start spending on 5 star players. Your going to need them anyway when you move up. If it continues the way it is now, I can see the team going up this year, but then dropping back down the next year.

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Ben 7, Kings Langley says...
2:03pm Sat 15 Nov 08

When is one of these supporters who are so against all that Steve Hayes is trying to do to for Wycombe, going to have the guts to say just what it is they have against him. He is an ambitious man. Ambitious for Wycombe, and is willing to put his money where his mouth is. I wonder how many supporters would do the same even in a small way. And what does he get in return?. Suspicion, sniping remarks, non support. When Wycombe move up into Coca Cola division one, and yes I did say when, because with Steve's record, up is the only way acceptable, I expect to hear a different tune sung by the supporters of the Blues.
Up The Wycombe!

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brian.greene, High Wycombe says...
10:04pm Sat 15 Nov 08

Steve Hayes strikes me as a very decent chap who loves the club and wants to do the best he can for it. He even invested good money in the Wasps to protect Wyccombe's interests. He has vision, he has resources and even though he could end up losing his money, as it isn't being rewarded with equity, he has continually supported the club with cash and appears that the business will need his facilities for some time to come. Cash that Steve injects from his own pocket so that people like me and my three children can enjoy a club that is progressing. I have to say, without wish to offend, that there are too many who just don't get it. Well I believe Steve does and if we would like to be like Reading, or Wigan then we need Steve big time. We need Peter Taylor and we need Tommy Doherty and quality that costs money. The alternative is League Two at best and the very tangible and real possibility of a retrograde step. The is the third recession that I have been aware of in my life and the worst thing about it is the feeling - we find a way to cope - but the feeling is not nice. That's what a club without Steve will feel like. If we lose Steve's support and he says I did my best, but I am not wanted I think I will have my money back please...recession, that's what it will feel like. Up the Blues.

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Dip 51, Cheam says...
6:30pm Sun 16 Nov 08

The ingratitude of some so called Wycombe supporters beggers belief. Why ever would anybody plough millions of pounds of their own money into a football club with little chance of seeing it come back, if it wasn't for love of the team. Hayes has proved himself in the business world as a winner and wants to pass those skills on to Wycombe. Just how much more do they wish Hayes to give with only criticism and mistrust in return.

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Golly, West Wycombe says...
10:42pm Sun 16 Nov 08

I find the attitude of a small minority of WWFC fans amazing.
They would rather watch a club playing on the Rye with two other fans and a dog than let an 'outsider' take control of the running of the club.

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true blue, Reading says...
11:31pm Sun 16 Nov 08

I am in complete agreement with the comments made. Give Steve Hayes a chance to help stave off a financial disaster at Wycombe. He means well and his heart is in the football club here talks to supporters in the ground at most home games and is what we would call a true supporter . Come on for
goodness sake give the man a chance before it is to late.

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