Wycombe Wanderers pause plans to buy Bearwood Park from Reading
Negotiations between the two clubs have been put on hold due to constraints surrounding the usage of the training facility
Last updated 18th Mar 2024
Wycombe Wanderers Football Club has announced a halt in its negotiations to acquire Bearwood Park from Reading Football Club, following recent developments in the ongoing discussions.
In a press release issued today, Wycombe Wanderers confirmed that the majority investor, Feliciana EFL Ltd, had made a proposal to purchase Bearwood Park, which serves as the training ground for Reading Football Club. However, certain constraints surrounding the usage of the training facility have necessitated the suspension of ongoing talks.
The press release stated, "Wycombe Wanderers Football Club and Feliciana have to put on hold the discussions and ongoing due diligence due to seeming planning limitations allowing only Reading FC to use the training grounds."
The decision to pause the negotiations comes after Reading Football Club announced its intention to sell Bearwood Park, prompting Wycombe's interest in acquiring the facility. Discussions between the two clubs were progressing, with details such as facility sharing arrangements and transition plans yet to be finalized.
"While the details were being finalised and due diligence carried out, Feliciana would provide sufficient financing to Reading to allow it to pay its tax obligations and operating expenses, including payroll for the staff and players," the press release confirmed.
Wycombe Wanderers expressed their intentions to support their neighbour, Reading Football Club, through their proposal, citing historical precedents of clubs assisting each other in similar circumstances.
"Indeed, Wycombe’s own training ground had been sold over a decade ago to reduce operating expenses and fund the club when the club had its own financial issues," the press release highlighted.
Despite the pause in negotiations, Wycombe Wanderers conveyed their well wishes to Reading Football Club in resolving their issues. Additionally, they affirmed their commitment to continue their search for a suitable training ground that aligns with the ambitions of the club.
The press release concluded, "Wycombe continues to wish its neighbours good luck in solving its issues. For its part, Wycombe will continue its search for a training ground that meets its ambitions for the Club."