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FINANCIAL HISTORY OF WWFC LTD (first published July 2004) Part 2 Summer 1993 until May 1999 The early years in the Football League  October 1993 - Wanderers formally announce record profits for the 1992/93 season at the AGM. Chairman Ivor Beeks is quoted in the press as saying "A large percentage of that money is a result of what Martin (O'Neill) has been able to achieve. I don't think we, the Board of Governors, should take any credit. I don't think it's any different to all the supporters who stand up each week. They do their jobs and we do ours. It's easy to do the job if you are successful, but if you go back six years, when we lost £60,000, it was not easy to swallow." The 4,602 average League attendance at Adams Park sets a new Conference record. Funds are also boosted by £100,000 thanks to revenue from match reciepts and TV income from a FA Cup tie with West Brom. November 1993 - Top scorer Keith Scott is sold to Swindon Town in a deal eventually worth £375,000. Lincoln City receive 20% as part of a sell-on clause. Coming in the opposite direction is Steve Brown who at £60,000 becomes the record signing at Wycombe when he moves from Northampton Town in February 1994 May 1994 - The debut season in the Football League ends with a dramatic Play-Off success against Preston North End at Wembley. Inflated entrance costs at Wembley result in Wanderers travelling support falling to around 20,000 mark. However, gate revenue for the season breaks the £850,000 barrier (average League attendance 5,512) and another profit (£217,000) is recorded compared to a turnover of £1.54m. May 1995 - Wanderers finish 6th in their debut season in Division Two but miss out on the normal play-off place due to restructuring higher in the League. At the start of the season winger Steve Guppy moves to Newcastle United in a £150,000 deal. Martin O'Neill brings in Mickey Bell (£45,000), Gary Patterson (£70,000), Miguel Desouza (£80,000) and then sets a Club record when £140,000 is forked out for Steve McGavin from Birmingham City. The average home League gate for the season jumps to 5,803 and goes towards producing gate receipts of £776,000. However a loss of £146,000 is recorded for the season from a turnover of £1.7m. June 1995 - The end of the era at Wycombe as Martin O'Neill leaves the Club for Norwich City. It's suggested that O'Neill has become disillusioned with the future direction of the Club, including plans to build a 5,000 capacity seated stand with executive boxes. The plans are eventually passed despite objections from local residents. Wanderers pick up around £200,000 in compensation from Norwich for taking O'Neill from Wycombe. July 1995 - Former Crystal Palace Manager Alan Smith is appointed as Manager. He goes on to spend £100,000 for Dave Farrell from Aston Villa, £40,000 for Jason Rowbothan from Raith Rovers and £150,000 for John Williams from Coventry City as a new Club transfer record is set. Later in the season defender Matt Lawrence is brought from non-League Grays Athletic for £20,000. September 1995 - A motion is proposed by the Board to reduce the maximum number of members from 500 to 250. The proposal is voted on at the Club AGM in October 1995 but is lost by the narrowest of margins as the necessary 75% of votes is not obtained. Speaking after the meeting Club Chairman Ivor Beeks told the Bucks Free Press the reasoning behind the proposal, commenting "We don't want any group or groups buying up shares, that would not be good for the Club. At the moment we have a cross section of people running the Club and I felt if we limited the number of shares that would remain the position." May 1996 - Wanderers finish in 12th place in Division Two but with the average home League attendance slumped to 4,572 the loss for the season is a record £540,000 from a turnover of £2.2m. At the AGM in October Financial Director Graham Peart expresses concern that financial information is being made public via the press, stating "This is a private Company, not a PLC and as such information in the accounts is confidential to Shareholders (sic)." He adds "Next years accounts will give less details to avoid confidential income and expenditure information falling into the wrong hands.". August 1996 - Wanderers open a new 5,000 capacity Woodlands Stand built at a cost of £1.6m but after grants from the Football Trust, the actual cost to Wycombe was just £500,000. The stand, with its 20 executive boxes and other commercial facilities, goes towards increasing the turnover for the 1996/97 season to £3.2m - a rise of 40% from the previous season. May 1997 - A regular sequence of events begin as Wanderers just avoid the drop to the Third Division. However, it takes the sacking of Alan Smith in September 1996 and the appointment of John Gregory to turn things around. It doesn't come cheap as Gregory is allowed to bring in players on high wages and long contracts. Other transfer dealings see Matt Lawrence moving to Fulham in February 1997 for a small fee while Keith Scott returns to the Club on loan from Norwich City. The deal eventually becomes permanent for a £55,000 fee. Average home attendances rise back to 5,232. October 1997 - Wanderers announce a loss of £386,000 for the 1996/7 season during a period where they were paying two management teams. Commenting in the Bucks Free Press on the accounts Financial Director Graham Peart said "We could have made a profit if we had sat back and let relegation happen but we're a bit more ambitious than that." He went on to add "If we could average 5,500 we could run at a profit. We were hoping for 5,850 this year" Peart goes on to talk about bringing in outside investment to the Club, saying "We would discuss it if someone did come in saying they were interested in getting involved. But of someone came in with £2m or £3m I would tell then to get involved in sponsorship or something. £10m would be a more realistic figure". February 1998 - Graham Peart writes a piece for the matchday programme emphasising the value of the Club, commenting "The club is worth around £10m to the right individual. So selling the club for a few million would be doing an injustice to Wycombe Wanderers members. The other consideration is that once sold, control over destiny has gone - forever. Our stability is envied by most other football clubs and very strong reasons would need to be argued to lose that advantage." Read more here February 1998 - There is a shock annoucement as John Gregory is poached by Aston Villa as their new Manager. Wanderers pick up around £100,000 in compensation from Villa and Youth Team Manager Neill Smillie is appointed as Caretaker Manager. Read more here May 1998 - Relegation is avoided again and Neill Smillie is given the Manager's job on a permanent basis. Average attendances have now risen to 5,411 and when the accounts are released there is profit showing for the season of £45,000 from a turnover of £3.1m. June 1998 - The Board propose wide ranging changes to the Club constitution that would give more power to the Board. An independent lawyer joins the members fight to overturn the proposals. James Goldblatt, who helped Brighton save their club in 1996, told the Bucks Free Press "It is important that the members turn off their televisions and go to the meeting. It's a very important night in the Club's future. It might seem less sexy than Wycombe reaching the semi-final of the FA Cup might be, but it is rather more important." The Club Chairman is said to be furious that the proposals have been leaked to the press. After an EGM and then a seperate vote the motion is overturned by rebelling members. Read more here October 1998 - Wanderers have a terrible start to the new season but new signings of Paul Emblen (£60,000 from Charlton Athletic) and Jermaine McSporran (£75,000 from Oxford City) see the beginning of improved results. The signings continue when Matt Lawrence is bought back from Fulham for £86,000. January 1999 - Neill Smillie is shown the exit after a return to the early season poor form. After a month without a Manager Lawrie Sanchez is appointed as the new boss. One of the Manager's first exercises is to sell Keith Scott to Reading for a fee that is eventually revealed as £250,000. Coming to Wycombe as a replacement is Barnet striker Sean Devine for a fee of £200,000. May 1999 - There is a miracle escape from relegation at the end of the season when a late goal at Lincoln City saves Wycombe from the drop on the final day of the season. The winning goal comes from Paul Emblen. May 1999 - More discussions on changing the constitution take place between the Wanderers' Board and representatives of the Official and Independent Supporters Club's. Ivor Beeks commented "It's a subject we need to to walk very slowly with. It's got to be for the benefit of Wycombe Wanderers and not someone who might be waiting out there with a lot of money"Read more Part 3 Summer 1999 until May 2002 Angling for a change Part 4 Summer 2002 until Summer 2004 It comes down to this Return to Part 1 1979 until May 1993 The non-League years Click here for all the latest from chairboys.co.uk |
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