2025 financial accounts

[Floyd]

@chris

I don’t believe that can mean the net of incoming and outgoing transfer fees because the numbers don’t add up.

Right.

[PhlebasthePhoenician]

@Floyd

In that case we can switch Van Sas, Allen and Fink for Magnus, Anders and Norris (etc). Where does our player income come from in this period?

Based on the quoted figure and the player departures in the accounting period, it can only be the compensation fee received from Huddersfield Town for Joe Low (as he was under 24).

[Glenactico]

@williwycombe

There may be a thread started for this but speaking of spending on infrastructure, there’s a story doing the rounds of planning application for this…is it one of them hoaxes?!

The Chairnabeu

[DevC]

@PhlebasthePhoenician

Based on the quoted figure and the player departures in the accounting period, it can only be the compensation fee received from Huddersfield Town for Joe Low (as he was under 24).

You think Joe Low was “sold” for £2.5m?
Anyway his transfer completed in the 25/26 year - 1 July.

[OxfordBlue]

@williwycombe

There may be a thread started for this but speaking of spending on infrastructure, there’s a story doing the rounds of planning application for this…is it one of them hoaxes?!

It’s AI, which has a strange habit of generating football pitches without goal frames. Definitely a wind up

[Twizz]

@DevC

…tely. The penalty if that is not complied with is a 15pt deduction - not good but not end of world.The previous owner can make it almost impossible for the administration process to run successfully but really he has no incentive to do so.Again it cannot be said often enough. It is not historic debt that kills football clubs, it is lack of cash to pay future costs committed to by the previous owner.

Sorry @DevC HMRC is not a preferred creditor as far as a football club is concerned wrt the definition of a football creditor as used by the EFL, so they don’t get paid in full.

They are a secondary preferred creditor for VAT and PAYE, so get paid a percentage.

This is why we now see HMRC filing petitions against clubs for non-payment - they need to get in before a club is declared bankrupt in order to secure their payments.

Paid in Full: A Critical Look at the Law and Economics of the Football Creditors Rule | Entertainment and Sports Law Journal.

[DevC]

@Twizz

… preferred creditor as far as a football club is concerned wrt the definition of a football creditor as used by the EFL, so they don’t get paid in full.They are a secondary preferred creditor for VAT and PAYE, so get paid a percentage.This is why we now see HMRC filing petitions against clubs for non-payment - they need to get in before a club is declared bankrupt in order to secure their payments..

Not sure you read accurately what I wrote @Twizz . It happens. I said as a preferential creditor would need to be paid in full before unsecured creditors get anything. That is true. It is possible of course that there may not be enough cash to pay even them.

[Twizz]

@DevC

Not sure you read accurately what I wrote . It happens. I said as a preferential creditor would need to be paid in full before unsecured creditors get anything. That is true. It is possible of course that there may not be enough cash to pay even them.

I don’t think that is the case - only football creditors need to be paid in full as per the EFL rules.

HMRC don’t need to be paid in full - they may be but in no means is it necessary for any new owner.

That said “football creditors” is going to be an alarming sum of money if (when?) it all goes tits up.

[eric_plant]

@Glenactico

The Chairnabeu

Exceptional work sir

[DevC]

@Twizz

I don’t think that is the case - only football creditors need to be paid in full as per the EFL rules.

HMRC don’t need to be paid in full - they may be but in no means is it necessary for any new owner.

That said “football creditors” is going to be an alarming sum of money if (when?) it all goes tits up.

Football creditors need to be paid in full if the club is to survive.
Any remaining money pays the preferential creditors including HMRC
Other creditors only get cash if preferential creditors are paid in full.

[OxfordBlue]

Email from the Trust this morning:

We fully understand the level of genuine concern amongst the club’s fanbase following the recent publication of the June 2025 audited accounts.

The Supporters Trust Board is collating questions from fans which will be put to the Ownership Group and fed back to members. Please email any questions you may have to wwst@wwst.org.uk by 19 March.

---

Independent Football Regulator

A new licensing system for the 116 clubs in the EPL, EFL and NL will require them to hold “sufficient resources” to steer them away from any potential “cliff edge”. Level of risk will be assessed on a club-by-club basis by Independent Football Regulator. In order to compete, clubs in the top five divisions will require a provisional licence from 2026/27 season. From 2027/28 season, they will require a full licence from the IFR.

Clubs need to show liquidity to meet their financial commitments and cope with “stress” such as relegation or withdrawal of owner funding. Club liquidity will be monitored on an ongoing basis by the IFR which can also impose measures such as “reducing expenditure or restructuring debt”. (Players not counted as liquid assets as “clubs cannot readily realise their value outside transfer windows”). Clubs must also show evidence of “having meaningfully consulted" with fans.

“It cannot be right that so many clubs exist on a cliff edge where one change could threaten their entire existence – fans should be debating formations not finances,” says IFR CEO Richard Monks. “Our licensing regime will ensure that club risk is managed appropriately, creating a more stable environment for growth and investment.”

Four “key risk factors” that IFR expects clubs to “monitor and mitigate” are…

*Business Model – funding gaps between income and costs.

*Liquidity & Cash flow – the ability to meet short-term financial obligations.

*Solvency and Debt – risks to operating in the medium to long term.

*Governance – adequacy of financial decision-making and risk management.

Thanks
Jon, Ben, Dan, Nigel, Alan, Trevor and Tony
Your WWST Board

[AlanCecil]

@OxfordBlue

…actors” that IFR expects clubs to “monitor and mitigate” are…*Business Model – funding gaps between income and costs.*Liquidity & Cash flow – the ability to meet short-term financial obligations.*Solvency and Debt – risks to operating in the medium to long term.*Governance – adequacy of financial decision-making and risk management.ThanksJon, Ben, Dan, Nigel, Alan, Trevor and TonyYour WWST Board

Last day today to get your questions on the accounts in by email to wwst@wwst.org.uk
That will give us time to raise them with the FD and ownership group in the hope of having answers by the WWST monthly members meeting on 26th March

[PhlebasthePhoenician]

@Floyd

What happened at Bury? That’s the situation i’m imagining.

Today’s update: Steve Dale appears in court after being charged with fraud

Former Bury FC owner appears in court charged with fraud

[OxfordBlue]

@PhlebasthePhoenician

Anyone know if there’s a chance he gets a prison sentence?

[AlanCecil]

Thanks to everyone who submitted their questions to WW Supporters Trust, which have been put to the club and answered.
We will be sharing the responses with WWST members at tomorrow night’s meeting between 7 and 8pm Members Monthly Meeting Thursday 26th March - Wycombe Wanderers Supporters Trust

[Floyd]

Trust email sent out today:

As a result of the level of concern expressed by members following the publication of the Club’s June 2025 audited accounts, the Supporters Trust collated questions raised by members to put to the Ownership Group.

We are pleased to provide the responses received. Please note that questions 1, 2, 3, 9 & 16 were amalgamations of questions received from different fans on the same subject. The club’s answers are in the bold type.

1. The fans acknowledge and appreciate this is a long-term project for the ownership group requiring significant investment to achieve. However, even with the investment into the academy, stadium and training grounds, a loss of £10m in year one has come as a surprise: particularly so given the lack of any real communication to or with the fans. What is the business model being followed? What level and period of losses is envisaged before the club is expected to become self-sustaining?
Answer: The club runs to approved budgets and forecasts. The Club has been fully transparent with its investment in the Club’s infrastructure , with its intent to become a Category One Academy and its desire to create home grown players to help towards the mid/long term sustainability of the Club. The club is also striving to increase Commercial Revenues and to control costs.

2. At the Fans Forum in November, it was mentioned that, at that time, £15m of the £20m outstanding loans had been converted to capital. Presumably this is not reflected in the accounts as it took place after the June 2025 year-end. Is the £15m mentioned additional to the £5.3m capital contribution already reflected in the accounts? Why was it not considered ‘good practice’ to include a post balance sheet event note in the accounts for such a major financial change? Are the loans all from the owner only? Has any more than the £15m mentioned in November 2025 since been converted to capital?
Answer: This was not disclosed as it was not present at the Balance Sheet date as per Accounting Standards. Yes, it is in addition to the £5.3m. The loans are all from the Ownership Group.

3.    It is recognised that the loans have been made by the owner and as such can essentially be treated as quasi-capital. In order to avoid any financial strain, has any agreement been made that the loans will not be called for a specific / minimum period?
   

Answer: There is no formal agreement as would be expected except for the amounts that are converted to permanent capital. However, we have received confirmation, for our audit purposes, that these loans will not be called in for a period of at least 12 months from the signing of the audit report in the accounts for the year ended 30 June 2025.

4. Operating commitments have increased from £1.8m to £4.5m pa. How much of this relates to the maintenance and management of the training grounds?

Answer: Breakdown is as follows:

Stadium- £1.46m

Training grounds- £3m

5. Turnover is up from £5.7m to £7m. How much of this is fan generated and how much is from tv money and other central funding?

Answer: Total TV- £375k

Total central funding- £2,262k

Other income equals tickets hospitality, sponsorships , non-match day sales etc

6. £8m spent on Plant and Machinery – do temporary buildings at Marlow Road count as P&M?
Answer: Temporary buildings at Marlow Road do not count as P&M

7. £1.8m spent on Land and Buildings – how is this split between Harlington, Marlow Road and Adams Park?
Answer: This is mostly Harlington.

8. Other Debtors have increased to £2.5m from £208k Jun24, what has caused this?
   Answer: This mostly relates to VAT recoverable on infrastructure projects

9. Trade Creditors have increased to £5.91m from £359k Jun24, how much of this relates to infrastructure related works?
Answer: This relates mostly to the timing of infrastructure projects

10. What would need to change over time for the club to begin rebuilding its balance sheet? Answer: Success on the pitch and with the academy operation whilst also driving the business commercially with good cost control.

11. Wycombe supporters recognise the importance of investment in the club. How does the ownership group assess whether the current financial model is sustainable over time rather than reliant on exceptional support?
Answer: The club runs to approved budgets and forecasts.

12. What outcomes do you expect from increased investment in the academy, and over what timeframe?
Answer: Players available for first team selection and also for resale to contribute to financial sustainability in the mid to long term.

13. What level of contact have you had with the Independent Regulator in preparation for the new regulatory system?
Answer: Significant contact and we are well prepared for the new system as it gets formalised and developed

14. What changes, if any, do you expect to have to implement to financial structures in order to adhere to and thrive under the new Independent Financial Regulator system?
    Answer: None in particular – all financial structures already in place.

15. Why was it decided not to include a profit and loss with the published accounts?
    Answer: As a small company, standard practice is minimum disclosure. It is, however, anticipated that, for the 2026-year end, a full set of accounts will be filed as we will have breached the size threshold for the second consecutive year.

16. Clearly the level of player and player management costs have increased. How does the club ensure it complies with SCMP requirements?
    Answer: This is part of normal practice and a regular ongoing process on a monthly, weekly and daily basis. In League One we cannot sign players etc without compliance. This is one of the reasons the Club employs a Finance Director.

Thank you to everyone who sent in questions on this subject.
regards
Jon, Ben, Trevor, Tony, Dan, Nigel and Alan
Your WWST Board of Directors

[HomerLone]

League One Blackpool post £4.3m loss as EFL cash worries grow - BBC Sport.

Cardiff

[kim_il_swan]

https://x.com/m_lomtadze/status/2039556532937822659

The first hint that Lommy has bigger plans for the UK than just us?

[chris]

Call me a Luddite but I think it’s good we have different apps for doing different things

[peterparrotface]

Still cant understand how anyone can be surprised by the 10m loss?