Wasps takeover offer accepted by administrators
Wasps’ administrators say they have accepted an offer to buy the crisis-hit Premiership club.
The offer, from a consortium including members of Wasps Legends, is for only the men’s rugby team and youth academy.
Wasps entered into administration on October 17, resulting in 167 people being made redundant.
This was followed by their suspension from the Gallagher Premiership for the remainder of the 2022/23 season.
Joint administrator Andrew Sheridan said: “This deal is a significant step forward, one that we all hope will allow Wasps Rugby to live on.”
He added: “The consortium knows it still has to meet all of the Rugby Football Union (RFU) requirements, including the fit and proper owners’ test and the presentation of a three to five-year business plan with supporting robust financial forecast.
“This needs to be completed as soon as is practical in order to be in a position to play next season.”
Wasps was the second club to be suspended from the Premiership this season after Midlands rivals Worcester Warriors entered administration in September.
