Wasps’ relocation to the Ricoh Arena is expected to be approved this afternoon in a meeting of the Coventry City council, a move that would see the club move its home games to Coventry some 147 years after the club was founded in North London.
When Derek Richardson took over the club in 2013, things seemed rosy. After a period of gross uncertainty in which the two-time European Cup winners had come perilously close to both relegation and administration, here was a man who planned on taking the club forward – allegedly. A closer look at the facts suggests Richardson’s end game was not, in fact, the long term future of Wasps rugby club, but rather getting his hands on the Ricoh Arena.
It all started two years ago – and the date is of great significance. According to Coventry RFC president Peter Rossborough, speaking in a recent interview with the BBC, Richardson met with him two years ago to discuss a potential ‘merger’ between the two clubs – perhaps with one eye on the Ricoh. Crucially, this was well before Richardson had declared any commercial interest in Wasps, suggesting he had an interest in the Ricoh before taking over Wasps. Rossborough himself was unavailable for comment to confirm this this afternoon, but a recent article in the Coventry Telegraph would appear to do so anyway.
When Richardson took over Wasps, he said: “Increasing revenue is an important part of a five-year strategic plan which we are currently finalising. There is a combination of ways we can do this. Very obviously we want to increase revenue from ticket sales, increase sponsorship income and then, longer term, generate vital revenue through owning or co-owning our own stadium.”
The fact is that in terms of cold, hard business, a move to the Ricoh Arena represents a great potential for profit. The surrounding area is also screaming regeneration, and the potential for development there is huge.
But what price the fans? A move to Coventry would be a total slap in the face to followers of Wasps. And sport fans are immensely loyal customers, in that they will still buy your ‘product’ even if it is performing worse than others out there. But when you are only selling 3,000 season tickets a year, how valuable really is this? Much less so than the potential for development at the Ricoh Arena, apparently.
Wasps and Richardson had been hiding behind claims of ‘confidentiality’ until now, allowing Wasps fans to assume that the move would be back to their original home city. That dream has been crushed with Tuesday’s likely council verdict.
There is still plenty that remains unknown, but Richardson is clearly a shrewd businessman who has had an eye on the Ricoh Arena for some time. Was his takeover of Wasps merely a means to and end to complete the purchase of a property that seems ripe for the picking? Only time will tell, but Wasps fans, do not be too surprised if your new home is up for sale again in a few years’ time for three or four times its’ current value.
By Jamie Hosie
Follow Jamie on Twitter: @jhosie43
Photo by: Patrick Khachfe / Onside Images
It might be worth giving some credit to the excellent post on the Waspies.net forum this piece appears to be inspired by…
Hi Matt, I’ve been chatting to Kevin, who wrote the original post on the Wasps forum, this afternoon, to get all the facts straight, and he gave the go ahead to write the piece.
Certainly Wasps had to do something – paying Wycombe Wanderers £2m a year in rent, when you’re making about £1m in season ticket sales (I’m assuming the “average” season ticket is ~£350) isn’t really sustainable.
Wasps stopped being a London team in ’96 when they moved from Sudbury to QPR. Relocation to Coventry might be an irritant to the fans who live South of the M25, but (as someone who does it a fair bit) Coventry is only 45-60min down the M40, which is a relatively fast road. Wasps suffer in High Wycombe from competition from more successful clubs (Quins & Sarries) in close proximity and a truly woeful and under developed group in Adams Park. I accept that Coventry brings you closer to other successful franchises, but will also appeal to fans in the Oxfordshire area.
Time will tell if this is a death knell or an inspired decision for the club, but 3000 season ticket holders vs the opportunity to really develop (as opposed to subsist) is a worthwhile risk. As a Wasps fan I’m excited. The club nearly folded 2 years ago and staying at AP is a slow death, funds and fans ebbed away by rent and lack of investment respectively. Better to go for it than fade out.
If Wasps get this right then there are wins for Coventry Wasps..
Not so sure about Wasps current local fans. However Wasps move into Coventry, agree a deal that utilises the current Coventry RFC as a feeder club or a way of blooding academy, fringe players, similar to the relationship between Gloucester RFC and Hartpury College who have blooded the likes of Johnny May and the Burn’s brothers etc.
Coventry RFC remember was a very well supported, successful club in the 1970’s losing its way just before and during the professional era.
There are numerous local rugby clubs, players, schools and rugby fans who see neither Worcester or Leicester as a local club. And it is wise never to mention Northampton to any Coventry sports fan.
Revenue from stadium income is vital for success. The ground is just made for big games, central for travelling fans and above all else additional revenue from all sorts of concerts etc add to the viability of the idea.
The key will be whether Wasps are wise enough to build a loyal fan base by creative (cheap) ticketing £10 tickets to fill the stadium and get the beer drinking, merchandising sales up, or £25 and only 5000 fans each game.
Let me know when season tickets are available, as long as someone gets Andy Goode a proper haircut.
I’ve only been a fan for 12 months and will make my first visit to Adams Park this weekend and my last by the look of it. I live in Ipswich so the A14 takes me almost there, and easier than battling with the M25. Rugby can’t really exist without a loyal fan base so I hope Wasps management go 110% to achive that.
DICK WILLIAMSON