Wasps takeover bid falls flat

Following the decision by Wycombe District Council last July to withdraw its support for a new Sporting Village and Stadium for London Wasps, the club has been searching for new investment and subsequently new owners.

The board is disappointed to confirm that negotiations, which had been leading towards an imminent takeover of the club, have stalled.

The board, having taken independent advice, have confirmed that London Wasps Holdings Limited remains nevertheless an ongoing concern.

However, the board acknowledged the urgency of the current situation surrounding the club.

There are on-going active discussions with other potential investors but the club is seeking, using all best endeavours, further expressions of interest.

London Wasps Chairman Mark Rigby said: “London Wasps has a long and successful history, and is one of the best known brands in the game, and the board is convinced that the right backer exists.

“With a great squad in place and the excellent Dai Young at the helm, we believe we are set to make a strong impact next season. Time is however short and we urgently need a new investor.”