WANDERERS have postponed plans to change their constitution after failing to land a big investor and will now ask supporters to give them interest-free loans instead.

WANDERERS have postponed plans to change their constitution after failing to land a big investor and will now ask supporters to give them interest-free loans instead.

The Blues board decided against changing its configuration, which currently sees 400-odd members holding a £1 stake in the club, after their seven-month search for a sugar daddy failed to come off.

Instead, the club has strengthened its position by appointing three new board members and securing a £500,000 interest-free loan. But the club will stay in the members' hands for the time being, although future talks to attract new investment are expected.

The exisiting members will now be asked to support future bond schemes and provide low-interest or interest-free loans to take the club forward.

The Blues want the cash to create a money-spinning Wycombe Wanderers Leisure Village at Adams Park which they believe will generate long-term cash to finance a winning team.

Chairman Ivor Beeks said: 'I wouldn't rule anything out. It's about what we can get consent for really.'

The board - including new members Brian Kane, who has been appointed vice chairman, banker Rod Tomlin and long-term sponsor and Verco boss Derek Vere - have set the ball rolling with a £500,000 interest free loan.

News that the constitution is not being changed has been welcomed by some but called disappointing by others who were hoping it would generate instant cash for manager Lawrie Sanchez to buy players.

Beeks is excited by the three-year plan.

He said: 'What we're proposing is the way forward to an exciting future.

'No way have we fudged the issue. We've spent seven months on this. We've talked to a lot of people and I think we've arrived at what's best for the club.

'Yes we would have liked more capital but it is not out there in the volume we want. When we make bonds and capital investment available to the members I think there'll be a lot of people who want to invest.

'The majority of the money will go on capital things. I don't see there's a problem with putting the money into those areas because it will generate money to buy players in the long run.'

Beeks, who confirmed he wants to remain as chairman for two more years, added: 'I can see that at some stage the capital will be converted to share capital - that's a possibility as some stage.

'It's not about having one investor, it's about having a group of people with the same interest.'