Oct. 5 (Bloomberg) -- London Wasps owner Steve Hayes put the two-time European rugby champion up for sale, three years after taking control of the club.
The owner is “looking to realize his investment and seek new owners to take the club forward,” according to a statement released on the club’s website today.
Hayes became sole owner of the team, which plays in High Wycombe, in 2008. His plans for a new 17,500-seat stadium, hotel and retail spaces for the club and the Wycombe Wanderers soccer team lost support of the local government earlier this year. Wycombe and Wasps share Adams Park, which has a capacity of about 10,000.
“I remain disappointed that Wycombe District Council withdrew its support for the Sporting Village project earlier this year,” Hayes said in the statement. “Since that time I have been working with the London Wasps board to evaluate the best steps forward for the club. I fully believe that a new stadium for Wasps is essential in the coming years as we have always said that Adams Park was unsustainable as a long term option.”
Hayes has appointed Baker Tilly to look for new investors for the club, which has won the English Premiership six times.
He took over Wasps by purchasing the stakes of Chris Wright and John O’Connell.
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