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Wasps takeover deal nearing completion
A TAKEOVER deal for Wasps rugby club has moved a step closer after contracts for the sale were exchanged.
A consortium led by former player Ken Moss has been looking to buy the club from current owner Steve Hayes.
They first made their move at the beginning of May when another proposal fell through, and after weeks of negotiations the deal looks set to be completed.
The club confirmed today that contracts between the two parties have been exchanged and full completion of the deal is set to take place in mid July.
In a statement the club said: “London Wasps are delighted to confirm that contracts have been exchanged on the sale of the Club to a new consortium headed up by former player Ken Moss, with full completion expected to take place in mid-July.
“Full details of the new ownership and future plans will be outlined once the deal is fully completed.
“The Club’s priority is now on ensuring the deal is complete within this timeframe as well as finalising arrangements for the Club’s future structure and operations.”
The takeover was first mooted after news broke in April that Wasps could go into administration and suffer possible relegation because of their financial problems.
Another consortium led by Barnet FC chairman Tony Kleanthous made a bid to take over the club but the deal collapsed.
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