Aviva Premiership Rugby Union club the London Wasps has finally made the official announcement that the consortium headed by former player Ken Moss has completed the takeover of the club from Steve Hayes.
The club based in High Wycombe had been on the lookout for a new owner ever since Hayes made his intentions clear that he would be open to selling the club last October. The two parties exchanged the respective contracts at the end of June, and finally, have finalized the takeover of the club by purchasing the shares of Hayes.
Although a new board of directors will be formed, Mark Rigby will continue in his role as the Chairman of the club. The five times champions of the English Rugby League had been expected to be completed by the end of July, shortly after the two parties exchanged their contracts. However, there were a number of stumbling blocks to the deal in terms of finances and the deal was delayed before the London Wasps made the official announcement for the takeover of the club.
Speaking to the club website, Rigby stated that he was extremely delighted that the deal for the takeover has gone through. He added that although the deal had taken long due to the complexities of the financial issues involved, it is pleasing that the situation has been resolved. The club will still share their Adam’s Park stadium with the Football Association club Wycombe Wanderers, another club that was owned by Hayes till last year.
However, there are plans for the club to develop a new stadium so that it can find some stable financial footing. Rigby also thanked the outgoing owner of the London Wasps for guiding the club as he has done during the three years he had been the owner at Adam’s Park.