Wasps takeover nears completion

by Portnoy Fri 29 Jun 2012, 1:08 pm

http://www.espnscrum.com/premiership-2012-13/rugby/story/166332.html

London Wasps have announced that they have exchanged contracts for the sale of the club with a consortium led by former player Ken Moss.

Moss turned out for Wasps between 1985 and 1990 and emerged as the front-runner to takeover the club when talks with a different party failed to materialise back in April. The club now expect the takeover to be completed by mid-July in a move that will bring Steve Hayes' four-year ownership of the side to an end. Moss will have to absorb annual losses in excess of £2million and repay a £1.5million secured debt.

The news of the takeover was announced through a statement on the club's website which also said: "The club's priority is now on ensuring the deal is complete within this timeframe as well as finalising arrangements for the club's future structure and operations."

The club has been up for sale since last July in a move that was sparked by Wycombe district council's decision to not back plans for a new stadium.

More to follow...

by AsLongAsBut100ofUs Fri 29 Jun 2012, 1:09 pm

Congrats, Hound Dog

and all other loyal pests supporters

by Portnoy Fri 29 Jun 2012, 1:15 pm

And thanks Wasps for announcing this before the fixtures are announce.

by Portnoy Fri 29 Jun 2012, 1:23 pm

The club has been up for sale since last July in a move that was sparked by Wycombe district council's decision to not back plans for a new stadium. Wasps endured a torrid campaign in 2011-12 as they only secured their Aviva Premiership survival on the last day of the season and had to cope with an extensive injury list.

With the club threatened by administration at one stage, the future looked bleak for Wasps but today's news will go some way to ensure that the club is safe.

by formerly known as Sam Fri 29 Jun 2012, 1:38 pm

Wasps won't ever be safe until they can get rid of those annual losses. This is a consortium of businessmen not one big millionaire looking for a play thing. Getting out of Wycombe and getting back into London should be a priority, next years team should be good so they could do well in the AP. That financial millstone must be lifted before they'll ever be secure though.

by Kingshu Fri 29 Jun 2012, 4:15 pm

http://www.bbc.co.uk/sport/0/rugby-union/18646833

Wasps will continue to play at Adams Park next term, under their current contract terms, but the Moss consortium are believed to want to build a new home for the club somewhere close to the M40 to secure their long-term future.

sounds like they will be sticking to the Wycombe area.

by beshocked Fri 29 Jun 2012, 4:33 pm

formerly known as Sam wrote:Wasps won't ever be safe until they can get rid of those annual losses. This is a consortium of businessmen not one big millionaire looking for a play thing. Getting out of Wycombe and getting back into London should be a priority, next years team should be good so they could do well in the AP. That financial millstone must be lifted before they'll ever be secure though.

How do you rate the Wasps side for next season?

Also what would you call doing well? HC qualification? Playoffs?

by doctor_grey Fri 29 Jun 2012, 4:44 pm

I still don't get the idea of staying in Wycombe. There is no population base to support a club. And eventually people get tired of travelling. I would have expected a future business plan would have Wasps move back closer to London. Next year is fixed, of course, but eventually beck to the city?

by formerly known as Sam Fri 29 Jun 2012, 4:47 pm

I think that Wasps squad could be challenging for 6th spot next term if they manage their resources well and avoid any serious injuries to key personnel. They'll need to write off the LV Cup and possibly the Amlin as well because the squad depth isn't great but for a first team they have a pretty damn good one.

1.Payne - ok he is pretty poor
2.Welsh chappy they've signed up
3.?
4.Palmer
5.Wentzel (a top lineout technician)
6.Haskell
7.Poff (a little nightmare at the breakdown and will do better playing with two bruisers alongside him)
8.Johnson (Bok 8, likes to carry apparently)
9.Simpson (will keep the tempo high)
10.S Jones (key experience)
11.Wade
12.Waldouck
13.Daly
14.Varndell
15.Southwell (more key experience and a secondary tactical kicking option)

Subs: ?, Lindsay (good impact), ?, Launchbury (as he learns), Jones (got valuable experience last season), Berry, Robinson, Wallace.

So young in places, liable to take a kicking at the scrum (not unusual) but look out for them in the loose both in attack and in defence. Won't win the league but must be looking at HEC Rugby (which would bring it's on financial benefits).

by HammerofThunor Fri 29 Jun 2012, 4:49 pm

Well the local derby of Oxford v Wycombe may well be on the cards.

Welsh hooker is Thomas Thomas (I Poopie you not)

by beshocked Fri 29 Jun 2012, 4:58 pm

doctor grey where in the city though?

by BigTrevsbigmac Sun 01 Jul 2012, 2:00 pm

Wasps have signed 3 tight heads :-

Phil Swainston, from Leeds where he has gained plenty of first team exposure. He made 26 appearances for Leeds last season in the Premiership, having experienced rugby for England at U18 and U20 level.

And

Italian tighthead prop Fabio Staibano from Aironi who has been capped about 18 times for Italy.

And

Will Taylor, 21, from the Ospreys who I would like to think Dai Young would know a bit about.

by Portnoy Sun 01 Jul 2012, 2:14 pm

Are there no 'due diligence' hurdles to leap first, folks?

by BigTrevsbigmac Sun 01 Jul 2012, 11:22 pm

Wasps site state that full completion is expected mid July.

by formerly known as Sam Mon 02 Jul 2012, 11:55 am

Are there no 'due diligence' hurdles to leap first, folks?

I'm guessing that's already been done Portnoy. If they are talking about signing contracts it will just be down to deciding when and how much the payments will be to complete the purchase.

by Portnoy Mon 02 Jul 2012, 12:06 pm

formerly known as Sam wrote:
Are there no 'due diligence' hurdles to leap first, folks?

I'm guessing that's already been done Portnoy. If they are talking about signing contracts it will just be down to deciding when and how much the payments will be to complete the purchase.

Isn't that what they always say Sam?

Spoiler:

by formerly known as Sam Mon 02 Jul 2012, 12:43 pm

I said I expected it to be done, I never said to what level of competency it was done.

by ScarletSpiderman Mon 02 Jul 2012, 12:45 pm

HammerofThunor wrote:Welsh hooker is Thomas Thomas (I Poopie you not)

Yeah it is Thomas Thomas, but better know as Rhys Thomas or TR Thomas.

by BigTrevsbigmac Tue 03 Jul 2012, 4:29 pm

formerly known as Sam wrote:I said I expected it to be done, I never said to what level of competency it was done.

The purchase is further complicated because Steve Hayes owned both Wasps & Wycombe Wanderers. WWFC have been taken over by a supporters trust & their probably isn't a straightforward separation of finances for the football & rugby clubs. I guess because they effectively went into the same pot?

But there are shared sponsors & people who worked for the separate clubs & some who worked for both.

The due diligence has apparently been going on for the last 7 months!

by ScarletSpiderman Wed 04 Jul 2012, 9:47 am

BigTrevsbigmac wrote:
formerly known as Sam wrote:I said I expected it to be done, I never said to what level of competency it was done.

The purchase is further complicated because Steve Hayes owned both Wasps & Wycombe Wanderers. WWFC have been taken over by a supporters trust & their probably isn't a straightforward separation of finances for the football & rugby clubs. I guess because they effectively went into the same pot?

But there are shared sponsors & people who worked for the separate clubs & some who worked for both.

The due diligence has apparently been going on for the last 7 months!

SO Wasps are owned by a bunch of wendyball fans?

by formerly known as Sam Wed 04 Jul 2012, 10:04 am

SS, the previous owner of Wasps also owned Wycombe Wanderers and hoped by merging the two clubs he could gain the backing of Wycombe Council to build a new multi-sports complex on an old airfield (or some such) land on the edge of Wycombe. This would provide improved transport links, hotels, gym etc etc but most importantly a state of the art stadium. Unfortunately it appears the local council can't stand him and told him no chance, at which point he stopped backing Wasps financially and put them up for sale.

by Kingshu Wed 04 Jul 2012, 10:20 am

Could two big London clubs ground share?

I know that it means they would be competing for the same supporters, but it works in Italian football, AC/inter Milan, Roma/lazio etc very few own they grounds and share with thier city rival. It goes right the way down the leagues so its not just big clubs that do this and can get the support needed, and when they started out they weren't that big.

Two London clubs really should have put in a ground share for the Opylimic stadium.

by beshocked Wed 04 Jul 2012, 10:25 am

Kingshu wrote:Could two big London clubs ground share?

I know that it means they would be competing for the same supporters, but it works in Italian football, AC/inter Milan, Roma/lazio etc very few own they grounds and share with thier city rival. It goes right the way down the leagues so its not just big clubs that do this and can get the support needed, and when they started out they weren't that big.

Two London clubs really should have put in a ground share for the Opylimic stadium.

Who exactly? London Welsh, London Wasps and London Irish are the only candidates and none of them have the support base to make it work.

The Olympic Stadium would be a dangerous path to go down IMO.

by ScarletSpiderman Wed 04 Jul 2012, 10:30 am

Aint the Olymic Stadium already gone to West Ham or someone?

by formerly known as Sam Wed 04 Jul 2012, 10:33 am

Bids were being taken on it again SS. The whole thing is up in the air. Ideally Wasps would group together with Leyton Orient and bid for the use of the stadium. Orient are never likely to be on tv so Wasps could have the ground when the needed it and only pay half the rent whilst enjoying the excellent location and logistics already set up in the heart of London. The running track could be covered and used as a standing area for the rugby fans and there's plenty of room to fill the place out for the big games.

by Kingshu Wed 04 Jul 2012, 10:47 am

form wiki

London Wasps: It was reported in the London press and nationally that the London Wasps rugby union team could move from their home in High Wycombe to the vacant Olympic Stadium.[29] However, there was opposition from the Buckinghamshire public and some of Wasps players, as Wasps now contribute to community life and have built up a solid fan base in the area that would be hard to recreate in East London.[30]

Saracens R.F.C.: Saracens Chairman Nigel Wray put in a bid to see the North London club move from Vicarage Road which they share with Watford F.C. to East London.[31]

London Skolars R.L.F.C.: Rugby League Championship One side London Skolars have also expressed an interest to move into the stadium following the Olympics. This would form the basis of a Super League licence application, however no official moves have been made as of yet.

Wasps and London Skoklars may work as the seasons don't overlap much.

Just throwing about ideas

by formerly known as Sam Wed 04 Jul 2012, 11:12 am

Wasps and London Skoklars may work as the seasons don't overlap much

Would be a great idea and allow for the stadium to be more rugby focussed (which would also suit the athletics meets likely to be held there). If a football club move there then large partioning fences etc would have to go up to distance the fans.

Sale and the Salford Reds are sharing a stadium now, be interesting to see how that goes.

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