WASPS will be returning to play in the championship for the 2023-24 season after fully satisfying the Rugby Football Union’s (RFU) requirements.
The club were recently bought by HALO22 Limited, a company owned by Christopher Holland, which saw Wasps exit administration.
Former 188Bet CEO Andy Scott has been appointed as Chief Executive Officer, supported by former players including Kenny Logan and Peter Scrivener and a new main board of senior-level executives.
The new management group submitted a long-term business plan and they were approved following a fit and proper persons test by the RFU.
Wasps, who previously played at the Coventry Building Society Arena, has also reached a ground share agreement with a venue in the Midlands for home games, which will be announced shortly.
Andy Scott said the group were ‘proud and delighted’ to secure the club’s future.
He added: “Wasps is a famous and highly regarded name in the history of English and European rugby and while this is a new venture and a fresh start, it is fundamentally built on the same values that brought the Club success and respect in its heyday.”
Christopher Holland added: “As the new custodian of Wasps, I am fully aware of the responsibilities I have to its supporters, history and heritage.
“Even though it has been an extremely challenging time for everybody connected with the Club, today’s decision is a reward for the hard work undertaken to date, and means we can now start planning for the future.
“There is, however, a long road ahead of us. In addition to fulfilling the obligations to rugby creditors as set out in regulation five by the RFU, we continue our conversations with investors to improve the funding we have to date.
“We are creating a viable long-term business model for the Club, and we have had to meet rightfully stringent and modern business requirements for regulatory control and corporate governance.”
