Wycombe Wanderers face High Court Winding up Petition

HM Revenue and Customs have issued a winding up petition against Wycombe Wanderers football club.

The hearing will take place on 25 March 2013 after the taxman initiated a winding up procedure against the cash strapped club on 11 February 2013.

The club said in a statement on 4 March 2013, “Wycombe Wanderers can confirm that HMRC have advertised the club’s overdue taxes. The club are working with HMRC to settle this amount and matters are progressing towards an amicable and workable end”.

However, the club are confident that their cash flow problems will be sorted and the club statement went on to state that “that club have had great difficulty releasing funds held within the assets owned by Wycombe Wanderers Trust via Frank Adam Legacy Limited, but these are now being unwound and will allow the club to operate with ample working capital”.

The club’s Supporters Trust recently announced that £250,000 was needed to prevent the club from the threat of administration. In response to this, members have set up a donation scheme that will enable the fans to give £10 a month to the football club. However, despite this, the league two outfit look set to sell their Marlow Road Training Ground to a consortium of fans for £350,000.

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