Wasps Announce Plans for 'Wasps Nest Stadium' and Aim to Rejoin Premiership by 2025-26 | The Guardian

Wasps are in the process of seeking funding for the construction of a new stadium that will have a capacity of 24,000, with the aim of returning to the top flight by the 2025-26 season. This comes as part of an ambitious rebuilding plan after the club’s financial collapse last autumn forced them out of the Premiership.

According to documents seen by the Guardian, the club intends to have a permanent home located in the M40 corridor called the Wasps Nest Stadium. The intended complex is set to include a hotel, conference facilities, and community leisure opportunities, with potential work starting in 2025, subject to planning and other permissions. The club hopes to have the stadium fully operational by the 2027-28 season.

Despite falling into administration in October, with 167 players and staff being made redundant, Wasps have been cleared to resume playing in the Championship next season. The club’s existing training ground in Henley-in-Arden could potentially meet the criteria to hold competitive league matches if necessary.

A DCMS committee concluded earlier this year that the demise of Wasps and Worcester was “a stain on the reputation” of the Rugby Football Union and Premiership Rugby. They were accused of “inert leadership” and warned that the financial situation of Premiership teams was “clearly unsustainable”.

A number of former Wasps players, however, remain committed to bringing the club back and restoring its status as a viable Premiership team. The club’s vision is to be an “inspirational sports business,” with the goal of returning to the Premiership in 2025 being a significant element of its business plan. The aim is for rugby revenues to account for less than 50% of the club’s total revenues by 2028. The objective is to generate “brand leveraged revenues” from other stadium activities, bringing in an estimated £7m per annum from 2027 onwards.

The club’s mission statement becomes harder to achieve with the formal loss of its “P share,” which guarantees a share of centrally-generated income to the holder. Following the club’s administration, this share is in the process of being repurchased by Premiership Rugby, costing Wasps at least £15m. The club will also have to rebuild its local support base and source new investment at a time when English rugby’s financial outlook is uncertain.

However, a new-look board comprising several successful business leaders is expected to be announced soon with the task of ensuring spending is matched by revenues. Wasps have issued a statement to the Guardian stating that the leaked document on which this report is based “seeks to meet the objectives of future sustainable ownership" and "requires ownership of a ground to meet the requirements of ‘brand leverage revenues’.”

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