Yahoo News Wasps acquire land in Kent as site for new stadium
Wasps are on track to relaunch in the south east after securing land in Kent as a site to build their new stadium. The club went into administration with debts of over £95 million two years ago but last month applied for entry into the new Tier 2 competition, which will replace the Championship in 2024-25.
By acquiring the site in Swanley on a 10-year option, Wasps are hoping to attract interest in a rugby heartland that does not have a Gallagher Premiership team. Their ultimate aim is to return to the top flight.
“It’s very rewarding that we have managed to achieve this milestone with the support of key stakeholders,” Wasps owner Christopher Holland said in a statement. “It brings our aspiration of a new home in the region closer and hopefully demonstrates our determination to recover Wasps sustainably.”
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All teams hoping to play in Tier 2, which is being enlarged by two to a 14-side league, must prove their financial viability, including the funds to pay off rugby creditors, as well as meet minimum operating standards.
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