COLLIS AND LUBY IN POLE AT WYCOMBE

WYCOMBE Wanderers have moved a step closer to a takeover.

The club is currently run by the Wycombe Wanderers Trust and the Trust board met last Monday to discuss two offers.

In a statement, the Trust said: “The board assessed in great detail two offers of investment, one from Bill Luby and Jim Collis seeking a majority shareholding, and one from Andrew Harman seeking an initial minority shareholding increasing to a majority holding in two years.

“Trust directors voted overwhelmingly in favour of the offer made by Bill Luby and Jim Collis, and will call a meeting of Legacy Members in due course to present the details of the bid and initiate a voting period for members to determine whether or not the offer should be accepted.

“During the Trust’s discussions with both parties following the meeting on Monday, Mr Harman has decided to withdraw his bid from the process.

The Trust decision leaves Luby and Collis, co-founders of private equity company Seaport Capital, in pole position to take over the Chairboys.

Former Wycombe player Harman expressed his disappointment.

“I was updated by my lawyers on Tuesday afternoon on matters relating to my bid,” he said. “It appeared that valuable information relating to my proposal had not been available to put before the board when the decision on how to proceed with the options regarding future ownership of the club was taken by the board that evening.

“I have now had time to reflect on the process and am genuinely disappointed. My affection for the club and ambition to become a minority shareholder increasing to a majority holding within two years, remains, but, in light of developments, I have reluctantly decided to withdraw my bid from that process.”