By Simon Gilbert
BBC CWR political reporter
The owner of Wasps rugby club has given up his shared ownership of the club's new training ground.
Documents filed with Companies House show Derek Richardson gave up his stake in the training ground, based in Henley in Arden, on 13 May.
Wasps has recently been under fire with its charity recently closing after failing to file its annual accounts.
The training ground is now under the sole control of another Wasps director, Christopher Holland.
The company which owns the ground also changed its name from Wasps New Training Ground (WNTG) to Elite Performance and Innovation Centre (EPIC), which opened in September 2021.
A statement from Wasps said: "The training ground was developed in a 50:50 partnership, and, now that the complex is completed, one of those partners, who is a director of Wasps, has taken sole ownership under a new company name designed to build on the EPIC brand.
"The training ground ownership matter is purely a commercial transaction," it added.
Wasps are currently facing a series of issues off the pitch, with regulator the Charity Commission, confirming it was looking into the situation regarding the club's charity, Wasps Community Foundation.
The club also defaulted on a £35m debt to bondholders in May. Those bonds were secured against the Coventry Building Society Arena (CBS) when they were sold in 2015 to raise money following the purchase of the stadium.
Bondholders will be consulted this month on whether they would like to extend the date of repayment of pursue other options – such as calling in the debt.
Wasps have also been under fire after Coventry City FC were unable to play their first home games at the CBS Arena after the pitch was deemed to be too dangerous by the Football League.
Coventry City have postponed Saturday's home game against Huddersfield as they start work on the pitch.
Follow BBC West Midlands on Facebook, Twitter and Instagram. Send your story ideas to: newsonline.westmidlands@bbc.co.uk
Wasps
Coventry A-Levels 2022: Full breakdown of results as city overtakes national average
Here is what teenagers in Warwickshire can do if they did not get the A-level or course results they had hoped for
Warwick woman's 'very British' reaction to missing garden furniture goes viral
Roof terrace on new Leamington apartments will be built just metres from neighbour’s bedroom
A-Level results of over 6,000 Warwickshire students paints ‘very positive picture’ as normal exam marking returns
Excitement as Coventry's A-Level results come in
Top A-level grades fall in first exams since Covid
Five key takeaways from this year's A-level results
Damage to nuclear plant would be suicide – UN chief
Preparing for the worst at Ukraine nuclear plant
Five key takeaways from this year's A-level results
Missed your grades? Here’s what you can do. Video
How were this year's A-level results decided?
When are the train and Tube strikes?
First Native American woman to travel to space
Jim Ratcliffe: Who is the man bidding for Man Utd?
Property guardians move with the times to save cash
Is this the end for 'Side Hustle Scotty'?
Dark secrets in the seductive world of influencers
Can aspiring musician Sasha find her own way in life?
Meet the unvaccinated…
Prof. Hannah Fry seeks to understand why so many are against Covid-19 vaccinations
Getting the troops out of Afghanistan
The story of the troubled exit of Allied troops from Afghanistan
An unforgivable crime was just the beginning…
Explosive secrets and chilling twists await in The Secrets She Keeps
The ups and downs of a 30-year marriage. Video
"We rarely eat the food we serve" Audio
One of Britain's wealthiest drug barons. Audio
Secrets, lies and a haunting past… Video
© 2022 BBC. The BBC is not responsible for the content of external sites. Read about our approach to external linking.
Wasps rugby club owner gives up new training ground – BBC
Leave a comment
