With the likes of Toulon and Clermont buying their way to success, professional rugby is increasingly becoming a corporate world, with money rapidly becoming a key part of success. For many, this is a sad change, but in terms of growth, it does mean that rugby is set for more and more expansion.
Now it seems that Wasps are the next side to cash in, as they prepare to make a move that, they hope, will see a dramatic increase in revenue.
After their move from London to Coventry, Wasps plan to launch something called a “Retail Bond” (as a front rower I’m really struggling with that one) that will see them make up to 35 Million Pounds. As far as I can work out, a retail bond is something that the corporation sells to an investor, and will then pay them back with interest or something to that effect. This amount of profit would take them past the likes of European giants Toulouse, and puts them in good stead as they prepare to unveil their “marquee signing”.
We do not know who this signing is yet, but it in addition to the signing of Leinster flyhalf Jimmy Gopperth, Wasps are really showing a lot of initiative as they look to the future of their club.
Wasps will feel that they have positional needs to address in the front row, as well as in the backline, with Andy Goode’s legendary talents beginning to fade and Tom Varndell on the way out. Wasps boast an excellent back row, with the likes of James Haskell, Ashley Johnson, and Nathan Hughes. Additionally, Wasps can call on the talents of Joe Simpson, Elliot Daly, and explosive pace of Christian Wade.
Wasps suffered a fall from grace after winning the Heineken Cup in 2007, and were, fiscally speaking, one of the worst clubs in Europe, and nearly closed three years ago. However, Derek Richardson has nursed the side back to monetary health, while Dai Young has been working his magic on a team that is rapidly becoming one of the best in the Premiership. That trend was continues this weekend as the side secured 6th place following a vital win over Exeter.
Wasps purchase of the Ricoh Arena, was an excellent idea for the club financially, as the ground offers many amenities that are not often found at such a location. In addition to the 32,600 seat stadium, the Ricoh also boasts a concert venue, a hotel, two restaurants, and a casino, all of which will further bolster the clubs finances.