There is an open letter on the Wanderers website about this, I must admit I thought everybody had learned their lesson last time. Again I ask the qustion that Ron did before Christmas. WHY
https://www.wycombewanderers.co.uk/news/2019/january/an-open-letter-from-trevor-stroud/ Direct link to the open letter
The open letter has no substance "Faced with a concerning cashflow situation for the club over the winter months, and while negotiations have been continuing on the investment deal, Bill and Jim also agreed to make a loan available to the club, with a charge against Adams Park". So Adams Park will be at risk "We are making sizeable losses each year in our current setup, and it is not either fair or viable to rely on ‘football fortune’ (cup runs and player sales) as a breakeven model each year." But surely we have been reducing/ eliminating our debt which must have been a burden. So having done that, how much are we losing annually, or more to the point, how much will we losing annually from now on? "If Legacy Members vote in favour of the investment by Bill and Jim, I have every confidence that their investment will be spent wisely, to continue the forward progress that has been made on the pitch in recent years, and improve the off-field activity to help us better engage with supporters, sponsors and the local community as a whole." Really? Very reassuring. And what give you that confidence? "The potential for growth is exciting". Convince us. Those words alone mean nothing "In case the vote is unsuccessful, the Trust has identified possible alternative options – though in our view, as it stands, these are less favourable. To be sustainable under Trust ownership would mean descaling the size of the on-field and off-field operations, and it will take the most optimistic of supporters to believe that that situation would not lead to a decline from our current league standing." Interesting that this doom and gloom had not been brought to our attention until these investors came along. Sounds like we didn't seek investors; we were "Introduced" to investors. By whom? What does one read into that? As far as I can see, the only attraction to any investors is Adams Park
I hate to say it but has to be asked, and obviously we wouldn't get a straight answer. Does any of those trying to persuade legacy members to vote in favour stand to gain financially. This is a complete turn round from what was said when the club became owned by the fans. Are they saying they got their sums badly wrong at that time. Where in the 5 year plan did it even hint at needing financial help and having to give away/ sell a majority share?
I am sorry to say this but I think they are a bit deluded about growth, from what I have seen of our average attendance, the only reason it is any higher is the away support which everybody knew would go up in the first divison anyway. Name a club in the bottom three divisons that is'nt losing money.
Apparently, the loan of £500k has already been loaned and most of it has gone. Also, apparently, we are losing £700k every year. Without getting out my calculator, this looks as though we will need to borrow £700 k every year to break even, unless we can somehow miraculously start making at least £700k pa more than we are currently. Eventually we will not be able to borrow any more and will have to sell Adams Park to pay off the debt. So they will hold us over a barrel just like Hayes did. It stinks
Someone in the wwfc trust needs to take a long look at theirself this sort of financial difficulties I would have thought would have been looked into from every angle before and when the trust took over and as Ron pointed out why has this issue come up now,I smell a rat and sinking ship springs to mind.worrying times ahead me thinks
There is a meeting tonight at holiday Inn high wycombe about proposed takeover of the club and ex player Andrew harman is apparently involved with the takeover .don't really get his involvement to be honest, is it a good thing or is he being used as a deflection of something more sinister.
Very strange as The Trust have kept that quiet and the meeting is to discuss with fans, having not been granted permission by the Trust to be considered alongside the Americans. I wonder why they dismissed this offer
Don't really know Ron I guess we will find out later tonight or first thing in the morning seems very strange to me.what I find strange is why do the trust now seem to want to look for investment when they said a few years back this would never be allowed to happen again,surely someone didn't do their homework on the finances of the club at the time the trust took over its all sounding very dodgy to me.
Anything that has Beeks involved scares the sh*t out of me,he supported Hayes which tells you he should just f*ck off before he destroys the club i've supported since 1973.
Ex Chairboy Andrew Harrman investment plans https://philcatchpole.com/2019/01/2...chairboys-fans/amp/?__twitter_impression=true
Be good to understand why the trust favour the yanks versus Harmans plan outlined above. They may well be correct, but surely this should be explained to legacy members before they vote so they can make a truly informed decision
Has anyone yet given a believable reason as to why 2 American investors might be interested in a League 1 side? One with assets like Adams Park. Is there a copy of the accounts for the last few years showing this £700k loss pa we have been making. It's the first I've heard of that one. If it is £700k every year. Did it appear in the 5 year plane at all? Or did the 5 year plan have some very optimistic estimates within it? I hope some searching questions will be asked and the audience will not allow themselves to be fobbed off with insufficient answers and that the meeting is well documented for all to see. Needless to say, I am very suspicious. I didn't like the sound of it when I first heard and events and discoveries since have given me no reassurance at all.
After reading and listening to Harrman interview I will be supporting his investment plans I was unsure about the yanks and now there is an alternative so I will be voting against the takeover plans
Details of the investors and Jan 28th meeting http://www.wycombewandererstrust.com/2019/02/updated-timeline-for-investment-process
