News incoming?

[Heathen]

I'd live with groundshare - merger definitely NO.

[baldpaul101]

slightly worried that wasps seem to be signing up to the onerous RFU controls that Worcester won't.

But surely this is the exact due diligence fans have been asking the RFU & PRL for? You can't complain when they try & make sure only fit & proper owners take charge going forward?

[MarleyWasp]

The remaining conditions could be things like paying certain creditors in full, stuff that the Legends would have, quiet understandably, been waiting for this approval before processing.

[Heathen]

So when can we expect the lowdown on who the new owners are?

[Neils]

slightly worried that wasps seem to be signing up to the onerous RFU controls that Worcester won't.

But surely this is the exact due diligence fans have been asking the RFU & PRL for? You can't complain when they try & make sure only fit & proper owners take charge going forward?

+1

[Neils]

So when can we expect the lowdown on who the new owners are?

It was Wasps Legends who were approved.  Looking at their website tells you who is broadly involved. There will undoubtedly be backers rumoured to include Chris Holland but not DR.

[Gaz]

slightly worried that wasps seem to be signing up to the onerous RFU controls that Worcester won't.

But surely this is the exact due diligence fans have been asking the RFU & PRL for? You can't complain when they try & make sure only fit & proper owners take charge going forward?

Of course. I'm not complaining. Maybe I wouldn't worry if I knew what they were, but the Twitter thread earlier implies things that seem beyond a governing body role.

[DGP Wasp]

There is a sad irony for Wuss that these more stringent ownership suitability tests are in place almost entirely due to the 2 chancers who sent them to the wall in the first place. I am not without frustration in DR's direction, but I still believe his intentions were honourable, however misguided hindsight might prove them to be, and chances are he would still be seen as a fit and proper owner by today's standards if his takeover were playing out now.

I know everyone's instinct is quite understandably to paint the RFU as the bad guys in this, but the identity of the American backers behind O'Toole's bid remains somewhat opaque, and reportedly NDAs involved that may prevent the RFU from seeing as full a picture as they would like. Of course it may equally be the case that the RFU value the Wasps brand as more important to their product going forward, while Worcester are seen as more dispensable, so the RFU adjust their rules to suit. With so many shady deals being struck by even shadier individuals, it is impossible to separate fact from fiction in this whole sorry saga.

[jamestaylor002]

There is a sad irony for Wuss that these more stringent ownership suitability tests are in place almost entirely due to the 2 chancers who sent them to the wall in the first place. I am not without frustration in DR's direction, but I still believe his intentions were honourable, however misguided hindsight might prove them to be, and chances are he would still be seen as a fit and proper owner by today's standards if his takeover were playing out now.

I know everyone's instinct is quite understandably to paint the RFU as the bad guys in this, but the identity of the American backers behind O'Toole's bid remains somewhat opaque, and reportedly NDAs involved that may prevent the RFU from seeing as full a picture as they would like. Of course it may equally be the case that the RFU value the Wasps brand as more important to their product going forward, while Worcester are seen as more dispensable, so the RFU adjust their rules to suit. With so many shady deals being struck by even shadier individuals, it is impossible to separate fact from fiction in this whole sorry saga.

I appreciate I might be taking this out of context but this would be really sad if this was the case. To us "proper" rugby fans who don't get caught up in the fandom of Saracens, or only follow rugby during the 6N (I'm not saying you're on of those DGP), I'd argue that Worcester add a lot of value and are a proper rugby club with a strong history like us.

Sadly, the RFU may not see it that way

[NellyWellyWaspy]

I have real doubts about the viability of remaining at the CBS in the Championship.

When Wasps first made the move, Coventry were in National 1, and a reasonable case could be (was) made that there was a local appetite for Premiership rugby that Wasps could satisfy and attract crowds big enough to justify (if not actually fill) a 32k stadium.

Now Coventry have moved up and Wasps down, both now find themselves in the Championship competing for a slice of the same fairly meagre pie, with Coventry having an established local history and a ground that is appropriate to that level. Wasps are no longer the biggest show in town, and a couple of thousand in the CBS is not going to make for much of a match day experience, or for that matter any kind of financial benefit.  The financial benefits of the Ricoh (as was) are gone as it is no longer ours and never will be again

The EPIC remains an important tie to the area, and is surely key to any future, so that limits the geography of where we go, but I feel we should now be looking somewhere other than Coventry.

The RFU have already agreed that we could have elected to stay in the local area, in a different stadium if needs be. The consortium buying Wasps will have factored in the 3 years of rent as a fixed overhead of buying the club. We had a debate as to where Wasps could go, and no alternatives were available. The PRL asks for a 10,000 capacity ground, so that too is a limiting factor.

There is only one ground currently going ahead, with that exact capacity, as a Community Ground, and that is the one proposed by Warwick District Council. It is proposed to be home to Leamington Brakes FC (who were once Lockheed Brakes, the factory side for AP Lockheed (who I used to once work for). For the F1 fans, the only real part still left of them is AP Racing, but not on that site any longer.

The CBS Arena is a 40 minute drive (25 miles). This new ground is around half that distance/time away. Most of the old squad lived within 'walking distance' of this new ground.

If it all gets going, I would not be surprised to see Wasps getting involved in this new ground, early enough to allow the pitch and stands to be more suited to rugby.

[jamestaylor002]

Confirmed by wasps we are to return to the champ next season!! I saw it on Facebook but I did see a link - probably to the website

[JF]

Can't do links on phone, it's on the Beeb website.

[Bloke in North Dorset]

slightly worried that wasps seem to be signing up to the onerous RFU controls that Worcester won't.

But surely this is the exact due diligence fans have been asking the RFU & PRL for? You can't complain when they try & make sure only fit & proper owners take charge going forward?

+1

Another +1

My concern is that those carrying out the checks are in themselves fit & proper and that the requirements and process are transparent, whilst acknowledging commercial confidentiality.

Let’s face it, the so called guardians of the game haven’t covered themselves in glory in the past.

[Neils]

I have real doubts about the viability of remaining at the CBS in the Championship.

When Wasps first made the move, Coventry were in National 1, and a reasonable case could be (was) made that there was a local appetite for Premiership rugby that Wasps could satisfy and attract crowds big enough to justify (if not actually fill) a 32k stadium.

Now Coventry have moved up and Wasps down, both now find themselves in the Championship competing for a slice of the same fairly meagre pie, with Coventry having an established local history and a ground that is appropriate to that level. Wasps are no longer the biggest show in town, and a couple of thousand in the CBS is not going to make for much of a match day experience, or for that matter any kind of financial benefit.  The financial benefits of the Ricoh (as was) are gone as it is no longer ours and never will be again

The EPIC remains an important tie to the area, and is surely key to any future, so that limits the geography of where we go, but I feel we should now be looking somewhere other than Coventry.

The RFU have already agreed that we could have elected to stay in the local area, in a different stadium if needs be. The consortium buying Wasps will have factored in the 3 years of rent as a fixed overhead of buying the club. We had a debate as to where Wasps could go, and no alternatives were available. The PRL asks for a 10,000 capacity ground, so that too is a limiting factor.

There is only one ground currently going ahead, with that exact capacity, as a Community Ground, and that is the one proposed by Warwick District Council. It is proposed to be home to Leamington Brakes FC (who were once Lockheed Brakes, the factory side for AP Lockheed (who I used to once work for). For the F1 fans, the only real part still left of them is AP Racing, but not on that site any longer.

The CBS Arena is a 40 minute drive (25 miles). This new ground is around half that distance/time away. Most of the old squad lived within 'walking distance' of this new ground.

If it all gets going, I would not be surprised to see Wasps getting involved in this new ground, early enough to allow the pitch and stands to be more suited to rugby.

It may be that the RFU have agreed to a ground move away from the CBSA, the WL Group have put forward options (one seems to possibly be a share with CRFC if today's rumours are true) and the RFU have agreed to work with the buyers to make it happen. Another work through may be the eventual need for a larger stadium in the future (remember last week NO PRL team hit the 10K attendance and Exeter v Nizaam looks way undercooked tomorrow).

[BlackAndGoldSunglasses]

Official statement on the Wasps site: https://www.wasps.co.uk/news/wasps-confirm-return-for-202324-season/

Wasps are delighted to announce their return for the 2023/24 season, with confirmation they have now fully satisfied Rugby Football Union (RFU) requirements.

HALO22 Limited, a company owned by Christopher Holland, recently completed the purchase of the intellectual property, history and memorabilia of Wasps RFC, a transaction that saw the Club exit administration.

Andy Scott, a former CEO of 188Bet and Interim CEO of the Wasps Legends Charitable Foundation, has been appointed as Chief Executive Officer, and will be supported by former players including Kenny Logan and Peter Scrivener, as well as a new main board of senior level executives.

With the formal transfer of assets complete, the new management group submitted a long-term business plan and were approved under the RFU’s fit and proper persons test. Following this, the Wasps Men’s team can now confirm they will start the 2023/24 season in the Championship, English Rugby’s second tier.

As part of proposals accepted by the sport’s governing body, a groundshare agreement has been reached with a Midlands venue – which will be announced in the near future – to host its home games.

Andy Scott commented: “We are proud and delighted to secure the future of this great Club. Wasps is a famous and highly regarded name in the history of English and European rugby and while this is a new venture and a fresh start, it is fundamentally built on the same values that brought the Club success and respect in its heyday.”

Christopher Holland, the Club’s new owner, said: “As the new custodian of Wasps, I am fully aware of the responsibilities I have to its supporters, history and heritage. I do not underestimate that duty.

“Even though it has been an extremely challenging time for everybody connected with the Club, today’s decision is a reward for the hard work undertaken to date, and means we can now start planning for the future.

“There is, however, a long road ahead of us. In addition to fulfilling the obligations to rugby creditors as set out in regulation five by the RFU, we continue our conversations with investors to improve the funding we have acquired to date.

“We are diligently creating a viable long-term business model for the Club, and we have had to meet rightfully stringent and modern business requirements for regulatory control and corporate governance. The RFU and PRL have been a supportive partner during the process.

“I would like to place on record my thanks to all of our fans and partners, the wider rugby community, and all former players and staff. The support we have received has been incredible.”