The Ruthless Rise and Fall of Wasps Rugby Club

The Ruthless Rise and Fall of Wasps
In 2007 London Wasps lifted the Heineken Cup for the second time in 4 years with players in there squad such as Danny Cipriani, Joe Worsley and Lawrence Dellaligo. even as recent as 2020 they were in the Gallagher Premiership Final. But after wasps entered administration on Monday the 17th if October 2022. I thought we should take a look back at some of the highs and the lows of Wasps history.
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Wasps were unable to repay the £35,000,000 from a bond scheme in May of 2022 for the Coventry Building Society arena which is similar to a loan except you don’t pay back in instalments you have a date set when to pay the whole sum. They also had £9,000,000 of other debts and £2,000,000 of unpaid taxes. This coincided with an 8th place fish in 2021 and 9th in 2022 and on the 11th of October 2022 wasps announced plans to enter administration and were suspended from the premiership only weeks after Worcester Warriors faired a similar fate and are expected to be relegated from the English premiership. So what now after the Wasps Rugby administration? Will they be able to survive or will they face liquidation?

[@Freethinkingtheist77]

Sad to see such vitriol thrown at Wasps on this thread. I have been a supporter from my teens way back in 1996. The move to Coventry has proven to be a failure, although the club were on the verge of bankruptcy back in 2014 so its hard to imagine an alternative. My sympathies do go out to Coventry City supporters - they haven't been treated well and they and are right to be angry with everything that happened. All of that having been said, Wasps mean a lot to their genuine supporters and they are greatly missed. Very precious memories for me personally and a huge loss. I for one hope we see them come back.

[@andrewharris8439]

Their history remains being a great team historically.But Rugby clubs spending 100% of their revenues on player salaries is unsustainable which why Saracens broke the salary cap. Fundamental changes needed.

[@PeacockRhino]

The move to Coventry was one of the worst decisions in the history of English sport not just rugby. They destroyed their fan base and moved from a major global city to, no disrespect, a small Midlands town that’s already surrounded by other established clubs in the same area. If they were going to move - Yorkshire or the North East would have been a better bet.

[@goodtimes2hellyeah169]

Coventry is not a small town it’s a city of nearly 400k. What the wasps did was abandon their true fan base and at the same time destroy any potential local fan base by kicking the football club out of a ground built for them. So glad the pond scum have gone bust

[@glynnwright1699]

Wasps were on the verge of bankruptcy before they moved to Coventry.

[@catch22rugby]

You had to use that photo of Haskell 😂 nice video Connor

[@ConnorDoesRugby]

I just couldn’t help myself 🤣

[@MichaeldeSousaCruz]

Really have to look at the whole of the league and every club throughout the history. The promotion/relegation model has not done rugby union well as it has soccer. If one team is cheating or living beyond its debt obligations then that has a ripple effect to each and every club, person and community. If you want a premier league model then lift that cap and let billionaires have fun with their accumulated government tax credits. If you want a cap then you need a structure like the NFL, socialized gains and losses, all clubs and the league working together, mutual interdependent. What do you want? What’s your worldview say is best? It’s pretty simple what the solutions are, anyone have courage?

[@joemartin4751]

Very sad.

[@ConnorDoesRugby]

Yeah, hopefully they can get through this but it doesn’t look promising

[@cshiels14]

Really enjoyed the video, just fyi Eoin is pronounced o-in 4:08

[@ConnorDoesRugby]

Glad you enjoyed it! Thanks for letting me know I’ll try and remember if the name comes up again in the future😃

[@davidpalin1790]

unfortunately it all counts for nothing 😕

[@ploppysonofploppy6066]

Got to feel for people losing their jobs. However, Wasps are the architects of their own downfall. For decades they lived beyond their means. All that glory, that stellar team they had, couldn't possibly be sustained by a half full 10000 seat stadium. While the rest of us struggled to compete with an unsustainable spend and had promising players poached by Wasps. Our sympathy should be tempered by this. Wasps have had 20 years in the sun that they didn't deserve. Hope they enjoyed what they had when they had it.

[@goodtimes2hellyeah169]

There’s a jobs conference at the CBS on the 26th 😂

[@tommytrinder.1226]

All of us in Lancashire and Yorkshire are laughing our balls off right now.

[@kingstumble]

Serves 'em right. I don't know how anybody can emotionally attach themselves to a peripatetic club that just pitches up in any town which takes their fancy. They stroll into Coventry football club effectively forcing them out, do not maintain the pitch properly forcing the cancellation of several matches, and alienate everybody who isn't a rugby supporter. The latest news that next year they could be the tenants of Worcester Warriors is beyond irony.

[@robwozencroft8684]

Glad to see the back of them