Former Chairboys player Andrew Harman has withdrawn his bid to takeover Wycombe Wanderers following talks with the Trust in the past few weeks.

Harman, who submitted his bid last week, has pulled out of the running to become a minority shareholder, increasing to majority within two years.

In a statement released today, Harman said: "I was updated by my lawyers on Tuesday afternoon on matters relating to my bid. It appeared that valuable information relating to my proposal had not been available to put before the board when the decision on how to proceed with the options regarding future ownership of the club was taken by the Board that evening.

“I have now had time to reflect on the process and am genuinely disappointed. My affection for the club and ambition to become a minority shareholder increasing to a majority holding within two years, remains, but in light of developments I have reluctantly decided to withdraw my bid from that process."

A statement from the Trust said: "The board assessed in great detail two offers of investment, one from Bill Luby and Jim Collis seeking a majority shareholding, and one from Andrew Harman seeking an initial minority shareholding increasing to a majority holding in two years.

"Trust directors voted overwhelmingly in favour of the offer made by Bill Luby and Jim Collis, and will call a meeting of Legacy Members in due course to present the details of the bid and initiate a voting period for members to determine whether or not the offer should be accepted.

"During the Trust’s discussions with both parties following the meeting on Monday, Mr Harman has decided to withdraw his bid from the process.

"Members will be updated with details of the next steps once they are finalised."