Wasps confirm takeover talks
May 5, 2012
Christian Wade has one of the few bright lights in an otherwise miserable season for Wasps © Getty Images
Wasps chairman Mark Rigby has confirmed that the beleaguered Aviva Premiership side are at an advanced stage of takeover talks though any deal is reliant on them preserving their top-flight status.
Wasps' Premiership future is still uncertain ahead of their do-or-die showdown with Newcastle on Saturday but Rigby has revealed in the match programme that the club are now in a "period of exclusivity" with a consortium. Reports last week suggested that former player Ken Moss was at the head of the prospective buyers, though this has not been confirmed.
The Adams Park side have endured a torrid season laced with injury, financial uncertainty and retirements and Rigby has admitted that it has been tough to manage, but is adamant that the future is looking bright at Wasps, providing they secure their Premiership future.
"The problems we have had with retirements and injuries have been well documented," Rigby said. "The cloud of uncertainty hanging over the club and its future off the pitch has been tough to manage on top of that, especially when at times that cloud was extremely dark indeed when the starkness of our financial problems were laid bare.
"On that front I am delighted to say that we have agreed initial terms with a consortium to take the club on and forward and we have now entered a period of exclusivity whereby the various detailed terms and structures of the deal will be thrashed out and hopefully finalised as quickly as possible.
"It is only fair to say that this group have at this point only agreed to buy a Premiership club and should the worst fate await us today, which I am confident we can avoid, then everything would have to be looked at again through a different set of eyes and decisions made based on what league we might be paying in."
To stay in the top flight, Newcastle need a bonus point win or to prevail by a margin of 24 points. With this in mind, Rigby has labelled today's clash as one of the biggest games in the club's history. He said: "In our past, this club has become well used to big games of course but today's clash is unlike any we've prepared for before, and I would strongly argue that today's game is more important than any final or knockout tie we've ever been involved in."
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