Wasps complete Ricoh Arena takeover
Wasps have completed the full purchase of the Ricoh Arena in Coventry.
In October, the Premiership team bought Coventry City Council's 50% stake in the stadium, and they have now acquired the remaining shareholding from the Alan Edward Higgs Charity.
The stadium's tenants Coventry City reportedly had an offer to buy the charity's shares turned down.
Wasps will play their first game at the Ricoh Arena against London Irish on Sunday, 21 December.
Coventry City will continue to play in the stadium after Wasps make the move from their current home at Adams Park in High Wycombe, 82 miles south of the Ricoh.
The North Stand of the arena will be renamed The Higgs Charity Stand, with Wasps saying that 50p from every ticket sold in the stand will go to the charity, which offers grants to communities around the city.
"We are looking forward to embedding ourselves in the region and helping promote rugby - something we have already committed to by making over 12,000 free tickets available to Coventry schools and rugby clubs," said Wasps chief executive Nick Eastwood.
"We recognise that this announcement might raise concerns amongst the fans of Coventry City Football Club.
"Wasps remain committed to building a long-term and mutually productive relationship with the club and its supporters."