The former Premiership Rugby club Wasps RFC has secured funding and a temporary stadium in the Greater London area (UK).
‘SIG’ stated that the club announced the above recently in a written update to the 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 (UK).
The Wasps Rugby Football Club was a professional rugby union team. They last played in Premiership Rugby, the top division of English rugby, until being suspended on October 12th, 2022. On October 17th, 2022, the club entered administration, resulting in relegation from the league and all staff being made redundant. The 40,500-capacity Coventry Building Society Arena in Coventry, England (UK), served as their residence.
The Wasps sent out a statement which read, “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.”
‘SIG’ further stated that in October 2022, Wasps entered administration after the 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, the 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, the Wasps confirmed talks with the 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, the Wasps had also been linked with a move to the 12,067-capacity Sixways Stadium in Worcester, England, the home of the former Premiership Rugby team Worcester Warriors.
According to the Wasps Owner Christopher Holland, although the club intends to return to action as early as possible, this might not be until the 2025-2026 seasons.
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