|CO-CHAIRMAN CONFIDENT OF SOLUTION
(Tuesday 5th March 2013)
Wanderers joint Chairman Don Woodward has reassurred supporters through the local press that the winding up petition served against the Club by the HMRC on 11th February 2013 is just 'procedure' and that action taken since that date to raise the necessary cash gives him confidence that the situation will be sorted prior to the court hearing on 25th March.
Woodward was quoted via the Bucks Free Press website as saying, "HMRC have a procedure which they need to go through. A lot of things have happened since. It's part of a process and people need to understand that. Over the last few weeks we've been speaking about getting cash in the pot to catch up on everything. I'm confident we will get through things and raise the funds we'll require." He also confirmed that he wouldn't be going to the hearing as he was confident of sorting things out before.
The Trust hope to raise the funds by selling off the Training Ground for £350,000 to an anonymous consortium of "life long Wanderers' supporters". Woodward also revealed that a loan was in the final stages of being agreed to help with the day to day running of the Club, saying "We've had an offer and we hope that comes through. There's no reason why it shouldn't. It's taken longer to get the loan we set out to get the day we took over." He added that the loan consisted of 'a small amount' which would contribute towards the £600,000 the Trust originally said it needed when it took over in the summer.
The comments came on the same day that ground tenants London Wasps issued a statement clarifying the financial situation betweem the two parties. It was reported by the Wanderers Trust in October 2012 that Wasps were £400,000 in arrears with their ground rent. It was later reported this had been reduced to around £200,000. The statement read, "London Wasps can confirm that there are currently no amounts outstanding between the two clubs, except for the usual day-to-day trading balances arising in the normal course of business under the ground sharing agreement. The management teams of the two clubs are in frequent contact and the relationship between the two remains cooperative, productive and mutually supportive."
Meanwhile, their has been no comment from the Club on the possibilty of facing another Transfer Embargo unless they file the Football Club accounts for the year ending 30th June 2012 by 31st March 2013. The Club were placed under a temporary embargo last season, with the accounts eventually being filed in July 2012. It's estimated that the Club made a trading loss of £1.5m during the 2011/12 season.
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