Wasps rugby club out of administration
They will make their return next season in the Championship
The Wasps, based in Coventry, have been lifted out of administration after months of financial difficulties.
The club has been taken over by HALO22 Limited – a company owned by Christopher Holland.
They now own all the intellectual property, history and memorabilia of the club.
The new owner said: “I am fully aware of the responsibilities I have to its supporters, history and heritage. I do not underestimate that duty.”
The Rugby Football Union said the buyers have met their requirements meaning the men's team will return in the Championship,
RFU CEO, Bill Sweeney, said: “We are pleased to be able to proceed with the approval for Wasps and thank the bid team and the administrator for the open and collaborative approach working with us through the process.
The Wasps’ bid does not include the women’s team which will continue to play as part of the amateur club, Wasps FC, at Twyford Avenue.
An agreement for the groundshare for the club at a venue somewhere in the Midlands is set to be announced.
Andy Scott a former CEO of 188Bet and Interim CEO of the Wasps Legends Charitable Foundation, has been appointed as Chief Executive Officer.
He said that “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.”