Wycombe Wanderers managing director Steve Hayes has offered to write off much of the club's mounting debts in return for becoming their majority shareholder.

Steve acquired just under 25% of club shares when he became a director of Wycombe five years ago. He has since contributed £7m to club funds in the form of loan notes.

After expressing their concern over the club's financial position, the Wycombe Wanderers Supporters Trust were invited to offer a solution, but they returned to Mr. Hayes asking for his proposal.

Steve met the board of the Supporters Trust to outline his thoughts and they are at present giving consideration to his proposals. All shareholders will be asked to vote on his offer at a general meeting early next month. They will also be invited to a presentation at Adams Park on Wednesday 24^th June where they will be given the opportunity to hear about the proposals first hand.

The club's constitution forbids any individual from holding more than 25% of shares, but Steve is asking for this restriction to be removed so that he can take control of the club's debt. He has offered a package of improved benefits to the Supporters Trust Board in return.

Said Steve: "I have always made it clear that decisions had to be made about my financial input at the end of season 2008-09. Under the existing circumstances, I cannot continue making money available as I have in the past. I believe that my proposal is the only solution for moving the club forward."

Mr. Ivor Beeks, Chairman and substantial shareholder of Wycombe Wanderers Football Club commented "I've worked with Steve Hayes for the past 5 years and have been impressed by his devotion to taking the club forward. He has an excellent understanding of our history and traditions, and there are ambitious plans for the future. I am excited by them, and have no hesitation in offering my complete support to his proposals".

More comment from Steve Hayes will follow exclusively on wwfc.com later.