ADVERTISEMENT
RugbyDump
REGISTER
LOGIN
ADVERTISEMENT
RugbyDump
Tuesday Oct 4, 2022

Wasps make new strides in securing investors

Financially struggling side Wasps have announced that they are currently in talks with a “number of potential investors and funders” following the news that they have filed a second notice to appoint administrators.

Wasps Holdings Limited, the company behind the club and the Arena Coventry Limited, have released a statement saying: “Since filing the original notice of intention on 21 September, a number of additional potential investors and funders have come forward.

“Discussions are now at a relatively advanced stage, and we remain hopeful of securing a deal that will allow the group, and the entities that sit within it, to move forward.

“We would like to thank all stakeholders for their engagement during this process, and in particular the constructive support and approach provided by the RFU (Rugby Football Union) and PRL (Premiership Rugby).

“This will continue to be vitally important as negotiations with interested parties proceed and we remain in regular dialogue with both organisations.

“While the financial circumstances facing the group are extremely challenging, we remain optimistic about a positive outcome and will keep our players, staff, supporters, partners, bond holders and suppliers updated as this process moves forward.”

Wasps have been in discussions with HM Revenue and Customs since August regarding their unpaid tax bill, and will also have to find the funds to start paying back some of the £35m in bonds that was acquired to help move to their new location in Coventry back in 2014.

The former premiership champions will be desperately looking to avoid the situation Worcester Warriors currently find themselves in, having been suspended from all competitions and on the brink of absolution.

Although no clear buyer has come through quite yet, the Wasps faithful will be remaining optimistic that their great club can come through this challenging time.

Their upcoming fixtures are at least for the time being to be played, with their next match against East Midlands side, Northampton Saints.

ADVERTISEMENT

 

View this post on Instagram

 

A post shared by Wasps Rugby (@waspsrugby)

Related Articles

  • 52 WEEKS AGO

    Worcester players set to make their loan...

  • 52 WEEKS AGO

    WATCH: Newcastle winger scores absolute stunner...

  • 52 WEEKS AGO

    England winger returns from injury to make...



ADVERTISEMENT

Great Tries

  • 4 WEEKS AGO

    South African schoolboy produces the greatest goosey in the sport

  • 6 WEEKS AGO

    Incredible team try showcases thrills of the grassroots game

  • 7 WEEKS AGO

    Highlights video shows just why Vakatawa’s return is so highly anticipated

  • 8 WEEKS AGO

    Individual brilliance as player scores off his own kick off

  • 9 WEEKS AGO

    Match Report: Australia challenge the All Black HAKA in extraordinary test

View All

Big Hits & Dirty Play

  • 3 DAYS AGO

    Shocking record set to be broken at this year’s World Cup

  • 3 WEEKS AGO

    Tom Curry receives ban following red card tackle against Argentina

  • 5 WEEKS AGO

    Off the ball 'punches' being called out by fans following All Blacks vs Springbok match

  • 5 WEEKS AGO

    Scott Barrett's World Cup on the rocks following reckless shoulder charge

  • 5 WEEKS AGO

    Bizarre tackle school video divides viewers

View All

See It To Believe It

  • 3 DAYS AGO

    Shocking record set to be broken at this year’s World Cup

  • 6 WEEKS AGO

    Incredible team try showcases thrills of the grassroots game

  • 6 WEEKS AGO

    Dane Coles stunned as he hears news of Steve Hansen joining the Wallabies

  • 6 WEEKS AGO

    Moment of madness leads to incredible Springbok score

  • 7 WEEKS AGO

    Highlights video shows just why Vakatawa’s return is so highly anticipated

View All

Funnies

  • 4 DAYS AGO

    Irish players prove the work/life balance is possible even at a World Cup

  • 1 WEEK AGO

    Springbok head coach Jacques Nienaber offers ice cold response at the press conference

  • 2 WEEKS AGO

    Stone Cole’d: Dan Cole channels his inner Steve Austin in brilliant behind the scenes action

  • 2 WEEKS AGO

    Chaos ensues as off-field substitute is caught up in try scoring opportunity

  • 3 WEEKS AGO

    Springboks set to sing additional song post national anthem in future test matches

View All

Amateur

  • 38 WEEKS AGO

    You Won’t See Many Better Than This Silky-Smooth Try From Llandovery RFC

  • 38 WEEKS AGO

    Incredible Scenes As Caldy RFC Hand Ealing First Championship Defeat Of The Season

  • 61 WEEKS AGO

    Dubious Score Decides Result Of Rugby's Biggest Schools Fixture

  • 61 WEEKS AGO

    Incredible Scenes At School Boys Rugby Match

  • 61 WEEKS AGO

    The Next Dominant Backrow?

View All

Player Features

  • 3 HOURS AGO

    Incredible spreadsheet shows exactly how Scotland can progress to the quarter finals

  • 5 HOURS AGO

    Makazole Mapimpi out of World Cup as world class centre drafted back in

  • 6 HOURS AGO

    Raw power and camaraderie displayed as South Africa and Tonga came together in incredible match

  • 20 HOURS AGO

    Springbok players pay tribute to incredible fans that support them around the world

  • 2 DAYS AGO

    Springbok’s reign as world champions in peril as Dupont returns

View All