Former Newcastle United and Sportsdirect chief Mike Ashley has held talks with Wasps as he eyes a £50m takeover, with negotiations underway between the parties involved. According to the Daily Mail, Wasps Holdings have sounded out Ashley about buying the club and the Coventry Building Society Arena. Ashley, who also previously held a stake in Rangers, has reportedly offered to refinance £35million worth of bonds taken out by the club’s owner, Wasps Holdings, to fund their move to Coventry in 2014. EXCL: Ex-Newcastle United owner Mike Ashley held talks with struggling rugby side Wasps as he eyes up £50million takeover deal | @MattHughesDM https://t.co/byiSi1vcQy — MailOnline Sport (@MailSport) October 10, 2022Wasps have until Monday to find £2million to avoid a winding-up petition deadline set by HM Revenue and Customs. It’s been reported that Ashley would accept relegation as long as the club retains it’s ownership stake of the Premiership.

Source: Daily Mail October 11, 2022 04:58 UTC