Wasps Legends Consortium Bids to Save Men’s Rugby Team and Youth Academy
Wasps Rugby Faces Rescue Bid
A consortium, including former Wasps legends, has put forward an offer to save only the men’s rugby team and the youth academy. This comes after the six-time champions were suspended and relegated following their entry into administration.
Administration Hits Hard
Wasps Holdings Limited was placed into administration on 17 October 2022 and immediately stopped trading. The club’s future has been uncertain ever since.
Next Steps: Top-Level Comeback
The new consortium plans to hire senior coaching staff and build a squad “capable of competing at the top level next season.” This ambition aims to bring Wasps back to their former glory.
Andrew Sheridan, Joint Administrator and Partner at FRP Advisory, said: “The consortium knows that it still has to meet all of the RFU requirements, including the fit and proper owners test and a three-to-five year business plan with robust financial forecasts. This needs to be completed as soon as practical to be in a position to play next season.”
