Who owns Wasps?? (1 Viewer)

Hedge fund based in the Cayman Islands I believe....

Covstu said:

So £20M went on the table but surely this is alot of money for a Rugby club? No disrespect to the sport but they do not have a fraction of the revenues that football enjoys (or relies on) so does anyone know who has raised this capital to buy the lease? Have the council just done a deal with an equally faceless group of people rather than SISU? I suppose do they care????

Click to expand...

According to Wiki:
Canmango Limited and David Thorne took over ownership of the club on 14 September 2012 after protracted financial issues. The club had been put up for sale in October 2011 by Steve Hayes after he was unable to progress with a new stadium and sport and retail development on the Booker Airfield.

Owner of Wasps is Irish businessman Derek Richardson who made his money from online insurance firm 123.ie which was sold a couple of years ago for around £40m. Who else is involved in this and exactly how much actual cash is involved is another matter

The set up is as follows

Moonstone Holdings Ltd (registered in Jersey I think but not certain I would also guess this is the company Richardson owns. there are similar named companies in Florida, New Zealand and Bahamas. The New Zealand one doesn't appear related the others I do not know)
I
owns 100% of
I
Canmango Limited (which is listed as non trading and Richardson has a charge over the shares it owns in Wasps)
I
owns 98% of
I
London Wasps Holdings Limited (this is the RFC team. The other 2% are owned by the trustees of Wasps Football club. It has 4 charges over all its assets including one to Richardson and another to Canmango Ltd)

its all standard business practice

According to Wiki it's jointly owned by Joy Seppala and Tim Fisher...