Just what is going on at troubled Wasps?

The imminent exit of several big names and financial woes have hit the club, writes Ben Coles

Why are some top players leaving the club?

Wasps have recently had confirmation that Nathan Hughes (Bristol), Willie le Roux (Japan) and most significantly of all, Elliot Daly (Saracens), are moving on.

Daly’s exit will sting the most, having joined the club at the age of 14 and developed into a key England international and British and Irish Lion. Hughes, signed out of obscurity, is joining Bristol for a reported £500,000 per season.

“There was lots of rumours about some of our big-name players leaving and that was creating a bit of negativity and was a bit of a distraction – that’s all out,” Dai Young, the Wasps director of rugby, admitted this week.

“It’s much better that it is all out there, we’re not asking questions about who is leaving and who is not leaving, it just allows us to be a bit more positive about the environment.”

The club’s finances have been the subject of speculation over the past year, despite average crowds of around 20,000 for home games at the 32,000-capacity Ricoh Arena.

Wasps Holdings Ltd posted a £9.7 million pre-tax loss last June, £5million more than in the previous year’s accounts, while the club’s revenue remained flat at just under £33million.

The club’s latest net debt figure is £55.8million, including £18.6 million owed to club owner Derek Richardson, who rescued them from insolvency in 2013.

However, Nick Eastwood, Wasps’ chief executive, has played down any concerns, telling the Coventry Telegraph: “We are at pretty much where we expected to be. And from here on in we expect good organic growth. The way I characterise it is, we are a start-up [business]. We’ve only been here three or four seasons. Any business in the start-up phase has to invest in the business, often in quite significant levels. The losses were increased, anybody can see that, but it wasn’t in many ways unexpected.”

What is happening with the training ground?

The training ground at Broadstreet RFC has been a persistent issue, with Wasps seeking to build a long-term, state-of-the-art base at the home of Old Leamingtonians RFC. Wasps moved to Broadstreet in October 2014 on the premise that they would remain at the training ground for six months.

Clauses were allegedly inserted in certain players’ recent contracts enabling them to leave if the training-ground move did not subsequently transpire.

What is more likely – play-offs or relegation?

Wasps have won only two of their past seven Gallagher Premiership matches ahead of tonight’s against Bristol, leaving the club in sixth place but only three points off the play-offs spots. They also failed to win a single game in the European Champions Cup pool stage for the first time, with Young revealing in a raw press conference last week his job felt like a “dark, lonely place” at times.

However, they are well clear of the relegation battle, 12 points above bottom side Newcastle.

“When we lose, it hurts. Sometimes the supporters might think it’s only them, but it’s not,” Young said. “Employers, directors of rugby, coaches – it does hurt. When you are at the top at any organisation, sometimes it can be a bit of a lonely place when things do not go well.”

How is recruitment going for next season?

Wasps have announced the signings of All Blacks centre Malakai Fekitoa (from Toulon), prop Jeffery Toomaga-allen (Hurricanes) and promising scrum-half Ben Vellacott (Gloucester), with Jack Owlett also arriving from Exeter Chiefs.

Wasps’ new academy is still in its early stages following the move to Coventry from London, but Young believes the system is beginning to bear fruit.

“We’ve still got two or three positions we’d like to fill. Our first thing is always English, but that is very, very tough to try and get English players.”