Although Mr. Hayes now has a controlling interest in both clubs, he said: 'There won't be any merger and at no stage has it ever been considered.'

The Blues M.D. was asked about the rumours at a meeting of investors and shareholders held at Adams Park last night. He repeated once again that he saw no 'conflict of interest' in his dual role with Wanderers and Wasps.

And Mr. Hayes received a ringing endorsement from Chairman Ivor Beeks who told shareholders: 'This guy (Hayes) has done more for our club than anyone will ever know. Anybody who thinks that he hasn't got the best interests of Wycombe Wanderers at heart will have to take me on as well because - believe me - he has.'

In response to a question about the value to Wanderers of the ground share deal with Wasps, supporters' representative Mr.David McGee told the meeting: 'The income from Wasps has to remain confidential, but when I saw the figure recently I was pleasantly surprised at how much it was.'

Questions also arose about the proposed plan to move to a new stadium.

Said Mr.Hayes: 'There are lots of hills to climb and barriers to overcome. This is a very complex issue involving lots of interested parties and it will only happen if it's the right thing for the football club.'