In 2009, WWT was able to enter into an undertaking with the then owner of Wycombe Wanderers Football Club (“WWFC”), Steve Hayes, that if he decided to sell WWFC, WWT would have first refusal
to acquire it.

A couple of years later that opportunity arose and finally on 29 th  June 2012, WWT acquired ownership of WWFC, which then became a wholly owned subsidiary of WWT. The same status was given to Frank Adams Legacy Ltd (“FALL”) which took over ownership of Adams Park, the Training Ground, and the club memorabilia.

Running a supporter trust owned club was never going to be easy but by shrewd cost control and the magnificent help given by a good number of volunteers in different ways, some stability was
maintained.

But by the Spring of 2013, the lack of working capital showed that there was a need to raise cash and a deal was done to sell and then leaseback the Training Ground. At the same time some fans realised
that football club ownership was worth more than just their annual Trust subscription and started donating monthly to WWT. In addition, a Chairboys Funders loan scheme raised £450,000.

In early 2014 an offer to buy a controlling interest in WWFC was received from unnamed investors but despite WWFC’s league status being achieved in that memorable day at Torquay in May, no deal ever materialised and the Trust therefore launched its Community Share Scheme.
To do this, WWT had to change from being a Limited Company to become a Community Benefit Society. The Share Scheme finally went live in April 2015 when pledges made by WWT members were turned into hard cash either in lump sums or by a commitment for 5 years. The Scheme went on to raise almost £700,000 providing for WWFC many items that it could otherwise not have afforded.

In July 2016, former WWFC player Jordon Ibe whose sale to Liverpool in 2011 had been carefully managed by Steve Hayes, moved from the Merseyside club to AFC Bournemouth. This deal was eventually to generate sufficient funds for WWT to repay the outstanding debt to WWFC’s former owner.

September 2016 saw the launch of the first 500 Club and this helped to fund the club’s signing of Scott Kashket. Further similar initiatives have now raised a combined total of almost £170,000.

By the 5th  anniversary of taking ownership, and with reduced debt and stricter financial control, WWT was looking forward to a better future and of course that was achieved on the pitch with promotion to League One coming in a memorable season conclusion in the spring of 2018.

However, that success came at a cost and by September 2018, Trust members agreed that WWT should seek an external investor(s). Several interested parties came under consideration and by the
following month WWT announced its preference to proceed with Bill Luby and Jim Collis.
At the same time Trust Membership started to increase rapidly as those eligible sought to become Legacy Members to secure a vote on the club’s future.

Just as the sale seemed to be progressing towards a members’ vote, another potential purchaser expressed a strong interest but then later withdrew after the WWT Board preferred the Luby/Collis deal. However, in April 2018 Bill and Jim suddenly withdrew for personal reasons and the WWT Board was left to quickly seek alternative offers.

Within days, a number of parties expressed their interest and after careful consideration of then all, a preference was agreed to further talks with Rob Couhig and a deal with his company Feliciana EFL Ltd was agreed in principle in July 2019. Legacy members were able to meet and question the potential new owners before their offer was put to the Legacy members for a vote in October 2019.
The result was an overwhelming endorsement and the deal finally completed on the 21st February 2020.

WWT retained a 25% stake in WWFC with two representatives on the WWFC Board. The Chairboys Funders were all repaid as were those who had funded WWFC with loans for far longer than had been intended.

Importantly, FALL retained full ownership of Adams Park, which is free of any debt or secured encumbrance.

It subsequently became clear that the Trust would not be in a position to contribute 25% of the funding required to meet the major infrastructure investment needed. Feliciana directors were engaged in further negotiations and agreement was reached 29th April 2023 to:
– increase Feliciana’s shareholding to: voting 90% and non-voting 90.2%;
– reduce the Trust’s shareholding to: voting 10% and non-voting 4.71%;
– commit Feliciana to funding:
 – stadium maintenance costs;
 – all working capital requirements and any operating losses;
– car park extension, new access road, reconstruction of the home terrace and Origin stand
and refurbishment of the Frank Adams stand;
– release the Trust from any future cash calls;
– repay a then outstanding £100,000 Trust loan to the Club, with the funds immediately donated back
to the Club to be spent on agreed projects that deliver benefits to the fans;
– retain the two Trust directors on the Club board;
– provide WWFC with a new 50-year lease over Adams Park – debt free freehold title remaining with
the Trust.
Legacy Members were asked to vote on this and, at closure of the voting period on 16 June 2023, it had been
again overwhelmingly approved.

Rob Couhig’s 03 May 2024 sale of ownership of Feliciana (and thus WWFC) to Mikhail Lomtadze did not impact
any of the above previously agreed terms and conditions.

In 2024 WWT rebranded itself as WWST  – Wycombe Wanderers Supporters Trust