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Statement from London Wasps Holdings Limited

The board of London Wasps Holdings Limited can today provide the following update on the on-going Club sale process.

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, is able to confirm that London Wasps Holdings Limited remains nevertheless a going concern.

However, the board acknowledges 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 or consortium to back this belief.”

Investment queries are being handled by advisers Baker Tilly through Thorin Ward or Jim Clifford on 01923 816400