Further update from the club: http://www.wycombewanderers.co.uk/news/article/club-statement--694188.aspx
this is bad news clearly but what does it actually mean? all this tax, loans, HMRC etc goes right over my head :/
Ultimately it is likely the club has not been paying VAT and/or PAYE/NI to HMR&C. No doubt HMR&C would have been going through there usual chasing process of issuing letters, default notices and possibly further collection processes (e.g debt collectors). With football being a very risky industry at the moment HMR&C are likely to have gone to the winding up petition earlier than they would have with over "safer" industries. I say "likely" rather than "definitely" as HMR&C often get these wrong (e.g Notts County recently)! However, the statement from the club does suggest they are definitely behind with monies due to HMR&C. What would be interesting to know is: How far behind are they in payments? e.g is just one VAT return or one month of PAYE/NI or is it a number of months/returns? How delayed are the payments? - presumably a good number of months overdue (PAYE/NI is due monthly/VAT is due quarterly for most companies) How much are they overdue on? My guess is that in the short term we will be ok - it sounds like some money is being freed up via the holding company (Frank Adams Legacy Limited) and potentially via the sale of the training ground. However long term who knows?
hopefully this can be sorted out without being deducted points, having said that all that matters is the club survives whether that be in the football league or not.
what about the money wasps owe us,surely it would be in their interests to pay up or they will be looking for a new home
I don't know the ins and outs of the amounts owed by Wasps but my guess would be that Wasps are up to date (or thereabouts) with their rent it is more likely the amounts they owe us other amounts such as recharges of matchday expenses or historical "loans" whilst they were owned by Steve Hayes (its v common for two companies owned by the same person to "loan" each other money in order to manage cash flow with no set repayment terms). As I said this is just a guess as to the money owed by Wasps.
the more we look into it the more confused i get.the cold hard facts are that crowds are going down at an alarming rate and the club can no longer function within it's means which is very worrying.
i may be a bit thick on takovers but surely the trust knew the facts and figures when they tabled their bid to save the club,maybe they underestimated what was needed to survive,but i find that hard to believe.
the trust probably belived they would be better owners that steve hayes (fair enough) but they would have been looking for outside investment. having to pay off waddocks and maybe nikki bulls contract wouldnt have helped, plus the fact wasps owe us money as for crowds perhaps lower ticket prices could work? id also love to know where all the fans "ill turn up when hayes/waddock goes" have got too!
Lower ticket prices would be a good idea buts a catch22 situation we are in too low and it could be admin and more trouble.due to opening a new firm i didnt renew my season ticket for this season.alarmingly i havent heard nothing from the club asking about my plans for the remaining games.surely the club should be chasing up on ex season ticket holders and blues card holdersto find out their plans for the future?.
Why would we pay Bull any money when he walked out on the club?And if Wasps will not pay what they owe the club refuse to let them play at Adams Park until ALL the debt is paid in full,let them play on the Rye.
Evening Guys, More bad news for the Wycombe area here - http://www.bbc.co.uk/news/business-21686916 As well as the jobs blow, any idea how much sponsorship money this may cost you?
evening tewkes,not sure how much money we will lose but reading this http://www.bucksfreepress.co.uk/sport/football/10266856.Wanderers_refuse_to_reveal_HMRC_tax_bill/ clearly wasps still owe us money,bloody egg chasers
Let's hope this doesn't affect any of the players on the pitch. If any of them are feeling insecure as a result of this news and their thoughts start to wander elsewhere it could be a problem that might spiral. A good result tomorrow will show us just how strong the bond is.
What really anoys me is that WASPS owe us money and yet they are still wheeling and dealing with new players!
