This is the gasroom.co.uk - est.1998
GasMan
Update from Trust on Investment proposals
Wed Feb 6, 2019 12:49
195.81.20.225

From http://www.wycombewandererstrust.com/ on 6th February 2019

Wycombe Wanderers Trust are now able to update members on a revised timeline in the process relating to potential investment to provide long-term stability for the football club.

As previously communicated, a meeting was due to be held on Monday 28th January whereby Legacy Members would hear a presentation of a formal offer made by two American businessmen – Bill Luby and Jim Collis – who are seeking a majority stake in the club. This presentation, to include more details of Bill and Jim’s vision for the club, would then have initiated a voting process whereby Legacy Members would be asked to approve the deal (requiring a 75% of ‘yes’ vote).

This meeting was postponed at short notice after the Trust Board was made aware that Andrew Harman, a local businessmen and former player, was also interested in submitting an immediate formal bid for investment. Having previously held tentative discussions with the Trust board., Mr Harman met with a number of Trust directors in mid-January 2019 to present the outline of his proposal, which he also shared with supporters at a public meeting, Together with Bill Luby and Jim Collis, the Trust Board has agreed to halt the process in order to allow Mr Harman time to submit his offer.

Mr Harman was initially asked to submit his formal offer in three weeks’ time (week commencing 18th February) but requested an extension of two weeks, which has been granted. While the Trust Board are keen for the process to move forward quickly, to enable the club to undertake long-term sustainability planning and start the planning process for next season. Mr Harman has indicated he needs more time to complete his due diligence and submit his offer.

The new agreed timeline is that Mr Harman will submit his formal offer in the week commencing 4th March, including a meeting with the Trust Board to present his offer in detail. The Trust Board will then consider his offer alongside that of Mr Luby and Mr Collis, and call a Legacy Members meeting to update them on the situation as it stands. Further details of this meeting will be communicated in due course; it is very much the Trust’s intention to hold this as soon as possible after their meeting with Andrew Harman.

At the Legacy Members’ meeting on 28th January, a request was made to reconsider the cut-off date for Trust membership which, providing the criteria is satisfied (i.e. Trust membership and season ticket holding for four consecutive years), would lead to Legacy Membership status.

It has been agreed that the cut-off date for applications for Trust membership that would allow such applicants to become Legacy Members, has now been set at Saturday 23rd February. Applications can be made by completing the form which can be downloaded here or by obtaining and completing a form from the Trust Table at the next home game.

Visit the website for a full summary of the Legacy Members meeting on Monday 28th January, or apply to join the WWT Live Stream group on Facebook to watch the full video of the event (Trust members only).

http://www.wycombewandererstrust.com/2019/02/updated-timeline-for-investment-process

Click here to receive daily updates
Return to the front page of www.GASROOM.co.uk