Derek Richardson takes on London Wasps role

London Wasps
Derek Richardson becomes the principal shareholder of London Wasps.

Irish businessman Derek Richardson has become the principal shareholder of Aviva Premiership outfit London Wasps.

It is understood that Richardson will not have a hands-on role at the club, but will be involved in developing the training facilities in addition to seeking a move to a new ground.

"I am excited to have become involved with London Wasps, a club I believe has a fantastic opportunity to move forward on and off the pitch," Richardson told the club's official website.

"I see my involvement as a big responsibility and this is a long-term challenge which I want to meet head-on. The club has been through some tough times but I am confident that, with the right management and commercial focus, new investment can really reinvigorate everything about London Wasps.

"Financial stability is our immediate focus and our aim is to become a self-sustainable business within a number of years."

Wasps currently sit seventh in the table.

London Wasps director of rugby Dai Young on October 7, 2012
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