Wasps Set for Stake in Ricoh Arena
By Community | October 3, 2014
Wasps have taken a majority stake in the Ricoh Arena as part of a multi-million pound plan to relocate to the West Midlands, order acording to reports.
The Daily Telegraph reports that players have already been told they can expect to move in time for the start of next season after months of discussions proved successful.
Wasps, viagra who currently play games at Adams Park in High Wycombe, are understood to have agreed a £90 million deal to take at least 90% of the company that owns the stadium – Arena Coventry Limited (ACL) – and hope the proposal will be approved by Coventry City Council at a meeting next Tuesday.
The club have declined to comment on the deal and are thought to be bound by confidentiality clauses with third parties. ACL is joint-owned by the council and the Alan Edward Higgs charity.
Wasps were rescued from potential bankruptcy last year by a multi-million pound takeover led by Irish businessman Derek Richardson.