Former Premiership Rugby club Wasps has secured funding and a temporary stadium in the Greater London area.
The club announced the news in a written update to stakeholders and fans, stating, ’We can now inform you that we have secured the core sustainable finance and a temporary stadium location in the Greater London/Kent area, aligning with our strategic plans to eventually relocate to Kent.
‘All we are waiting for is a competition to join that will allow us to compete at the highest level – and one that shares our values.’
WASPS STATEMENT
In October 2022, Wasps entered administration after Wasps Holdings Limited, the holding company that oversaw the club’s men’s and women’s rugby and netball teams, ceased trading.
The team was subsequently relegated from the Premiership, having accumulated a total debt of £95m.
Last October, Wasps outlined three pillars that would be integral in the club’s future, namely sustainable finance, a suitable stadium to play in, and a competition in which the club would compete.
The latest developments mean the club has satisfied the first two of these criteria but will continue its search for a suitable league to complete its return to action.
In the previous update, Wasps confirmed talks with Sevenoaks District Council over a site for a new stadium, as the club looks to secure a permanent home in Kent.
Having played at the 40,500-capacity Coventry Building Society Arena between 2014 and 2022, Wasps had also been linked with a move to Sixways Stadium, the home of former Premiership side Worcester Warriors.
According to owner Christopher Holland, although the club intends to return to action as early as possible, this might not be until the 2025/26 season.
WASPS ON THE MOVE
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