Wycombe Wanderers have paid off over half a million pounds of its debt to former owner Steve Hayes, but still owe the businessman £1.45million.

Wycombe Wanderers Trust chairman Trevor Stroud stated at their AGM last Thursday evening that the club has paid back £550,000 of their original £2million debt to Hayes.

Every repayment has been met on time since the Trust bought him out in June 2012, and has been aided by player sales of £642,150 in the last financial year.

Stroud also presented provisional figures for the 2013/14 season, in front of the 250 Trust members present at Adams Park, that show the club is expected to have made a loss of £244,507 overall.

It’s a vast improvement on the overall loss for the 2012/13 season which tallied up at £1,209,897, meaning that the club have cut their losses by £785,390.

Despite the club’s turnover going down by more than £200,000 their gross profit increased to £2,042,672 as a result of cutting their direct costs.

The figures are however inclusive of the rent that Wasps paid to be tenants at Adams Park.

That income is now completely exhausted after the rugby club moved to Coventry’s Ricoh Arena in December and paid up the last of the £478,000 it had owed the Trust since they took control of the club from Hayes.