WANDERERS managing director Steve Hayes has bought himself an 11.6 per cent cent stake in London Wasps in a bid to secure the future of both clubs in the town.

He hopes to use his double influence to pull off his dream of a new community stadium for both clubs to share.

He says without the £20million new home, European champions Wasps - who have already been looking at alternative sites away from Bucks - could leave town making Wanderers, who rely on their income, unviable in their current position.

Hayes has given himself a two-year plan to get the scheme up and running and a further three to complete the development, which he plans to finance in partnership with other developers.

He will spend the first two years lobbying the council and getting information from fans.

And if he doesn't get the support he is after, he says loss-making Wanderers will have to scale down their ambitions and make more cuts.

The multi-millionaire said: "I need action not talking.

"I feel we are on the cusp of something quite exciting, but it's not up to me.

"It's up to Wycombe to decide. There's so much good we could do with a community stadium.

"If I can see the people and the council are behind the club I'm prepared to continue to invest but I'm not prepared to invest year after year in a business that's not sustainable.

"It can all work if we get a new stadium and I think me joining the board of Wasps will help.

"My belief is that I'm the only person who can do it.

"This is not about Steve Hayes. It's not about me on an ego trip.

"It is about the vision for Wycombe Wanderers.

"The council know what I want. Wasps have fallen into their laps but if Wasps cannot increase the capacity of Adams Park or get a new stadium they will go."

The former double glazing salesman, who made his millions at Loans.co.uk, is now one of four shareholders at Wasps.

He knows his appointment will lead to some suspicion from Wanderers fans who fear Wanderers will be overshadowed by Wasps and their seven England World Cup stars.

Hayes said: "My prime consideration is Wycombe Wanderers.

"I've been a Wycombe fan for more years than I've been a Wasps fan.

Abbey Barn South is one of a number of potential sites being considered in High Wycombe but Handy Cross has been ruled out for the new development.

Hayes said: "We have a long way to go before our dream might become a reality, but my being on the board of London Wasps will help to ensure the two clubs' ambitions are aligned and complementary to the vision of a High Wycombe Community Stadium."

Wasps chairman Chris Wright said: "I am delighted to welcome Steve to the board. His business acumen, energy and drive will be a great asset."