Bid for Wanderers no longer being considered

Bid for Wanderers no longer being considered

Bid for Wanderers no longer being considered

First published in Latest Sport
Last updated
This Is Local London: Photograph of the Author by , Reporter

WYCOMBE Wanderers Trust has say they have broken off negotiations with the original bidder for a controlling interest in the club.

The consortium, who signed non-binding heads of terms with the Trust in February with a view to taking a 75 per cent stake in the club, are now no longer being considered after dropping the price they were willing to pay.

Trust chairman Trevor Stroud said it is now unlikely members will be able to progress a sale of a controlling interest.

Two offers of investment are still on the table - but these will come through the planned share issue rather than as an outright bid for a stake in the club.

In a statement on the Trust website, Company Secretary Colin Treacher said: "There have been as many as nine interested parties in total and the situation changed every day this week.

"The significant developments were that the bidder who we believed would become serious after our result at Torquay decided to look elsewhere, and the original bidder (whose interest led to all the previous announcements and the members’ meeting) reduced their offer and we are no longer considering them. That development was only finalised last night [Friday, May 9]."

Club chairman Don Woodward told the Bucks Free Press last week talks were still ongoing with interested parties, at least one of which contains former international players.

But it now looks more likely Trust members will push for the share issue, asking for fans to contribute money to club funds.

So far £400,000 has been pledged towards a target of £2million to be raised over a five year period.

Comments (1)

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3:27pm Mon 12 May 14

FedUp1980 says...

what a shambles this current board are, why commit to comments on television talking of exciting times ahead and then a week later release this statement. This clubs NEEDS investment and not a few quid from fans but proper investment. I can not see anything positive for our future
what a shambles this current board are, why commit to comments on television talking of exciting times ahead and then a week later release this statement. This clubs NEEDS investment and not a few quid from fans but proper investment. I can not see anything positive for our future FedUp1980
  • Score: 9

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