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Rigby expects Wasps sale

A number of potential new investors in stricken Wasps have emerged, according to club chairman Mark Rigby.

The interest emerged with Wasps in danger of going into administration after a takeover deal fell through last week.

"We have had quite a variety of approaches, from traditional investors to people who manage money on behalf of wealthy individuals," Rigby was quoted as saying by The Daily Telegraph.

"I do believe, with the interest that was already there and the new interest that has emerged, it will come together and produce a successful sale."

It is understood Wasps have enough funding to see them through the next month, which would allow them to complete the Premiership season, but the club need urgent investment to remain in business beyond May.

Wasps have returned with their begging bowl to three parties who had previously expressed an interest in the club while issuing an appeal for potential new investors to step forward.

Wasps lose £2million a year and a new owner would have to repay a secured loan of £1.5million.

Despite their perilous financial position, Wasps have announced the signings of Wales fly-half Stephen Jones and South Africa number eight Ashley Johnson for next season.

Wasps have also signed props Phil Swainston from Leeds and Will Taylor from the Ospreys.

Chief executive Chris Thomas said: "While everyone is aware that the club is seeking investment as a matter of urgency at the moment, in terms of player recruitment and retention, like every other club at this time, we have been working hard to continue to put our squad together for next season."


From Belfast Telegraph