A group of ex-Wasps players have formed a consortium to save the club
(Picture: Getty Images)The consortium battling to save Wasps will seek urgent meetings with the stricken club’s players in a bid to build a squad for next season.
Two-time European Cup winners Wasps fell into administration on October 17, with debts topping £100million.
Several distinguished former players from the Wasps Legends organisation have sourced external investment, and their rescue package has been accepted as the preferred bidder by administrators FRP Advisory.
A new-look Wasps could compete in next season’s second-tier Championship should the new consortium meet strict Rugby Football Union (RFU) requirements.
A clutch of players have already secured new clubs in the wake of Wasps’ 167 staff being made redundant, but many are still looking for either short or long-term deals.
Harlequins are understood to be weighing a move for England lock Joe Launchbury, having already signed up fellow Wasps free agent Josh Bassett until the end of the season.
Wasps’ prospective new owners will now attempt to win over club players on the attempted rejuvenation of the four-time Premiership winners, Standard Sport has learned.
The new Wasps set-up will suggest players seek short-term contracts for the remainder of this campaign, with the intention to bring them back for next season.
Head coach Lee Blackett is understood to be prepared to lead a revamped rugby set-up, with hopes high of building a competitive Championship squad for next term.
“This deal is a significant step forward, one that we all hope will allow Wasps Rugby to live on,” said joint administrator Andrew Sheridan.
“The consortium knows it still has to meet all of the Rugby Football Union (RFU) requirements, including the fit and proper owners’ test and the presentation of a three to five-year business plan with supporting robust financial forecast.
“This needs to be completed as soon as is practical in order to be in a position to play next season.”
