Former Newcastle FC owner Mike Ashley is in talks with Wasps about a takeover deal that could potentially rescue the cash-strapped Premiership Rugby club.
The much-maligned Ashley, who also previously held a stake in Rangers, has reportedly offered to refinance £35million worth of bonds taken out by the club’s owner, Wasps Holdings, to fund their move to Coventry in 2014. That debt was due to be repaid in May, while the club also owes £2 million in unpaid taxes to HMRC, as well as an outstanding loan to Sport England.
With Worcester Warriors having released all their players after going into administration, the two-time European champions are desperate to avoid a similar fate. Owner Derek Richardson is asking around £50 million for the club, plus a £12 million cash injection to cover short-term costs.
