WASPS ADDS TO MANAGEMENT TEAM, WITH NEW FINANCE DIRECTOR

GROUP FINANCE DIRECTOR.

Wasps announces that John Parker has joined the business as Group Finance Director.

John joins Wasps from Gloucester Rugby, where in his role as Finance Director & Company Secretary, he was instrumental in bringing the Rugby World Cup to Gloucester and saw the Club, from making financial losses, to continued sustainable financial profits.

John will be based at Wasps’ new home, the Ricoh Arena, and will be responsible for both the Club and Arena Coventry Limited, reporting to Group Chief Executive, David Armstrong.

The move to the Ricoh Arena has been transformational for Wasps, which now owns one of the UK’s leading destinations for business, entertainment, leisure and sport including:

a 32,600-seater sports stadium

a leading concert venue of 40,500 capacity, having previously hosted Coldplay, Oasis, Take That and Bruce Springsteen

a 6,000 sqm indoor facility that can host 12,000 people for exhibitions, conferences and concerts

a 121 bedroom hotel

a casino

numerous hospitality suites, bars and two restaurants

home to Wasps and Coventry City Football Club

David Armstrong, Group Chief Executive of Wasps, said: “We are delighted that John will be joining us. When we bought the Ricoh Arena, we moved from being a loss-making business, to becoming the Club with the second highest turnover in Europe. It was a transformational move for Wasps, and also for our balance sheet. We now have multiple income streams from the many different events and facilities at the Ricoh Arena, which place us on a firm footing for the future, and John will be instrumental in managing this.”

John Parker commented: “Joining Wasps is a fantastic opportunity to be part of a new business model in rugby. They are one of the most exciting clubs in the Aviva Premiership, particularly since they acquired the Ricoh Arena, which has now completely transformed the traditional rugby club business model. There is no doubt that Wasps is beginning an exciting new chapter; for the first time it is the owner of its own home, one which will provide a stable base for future growth and success."