Hayes to sell Wasps after ground blow

London Wasps owner Steve Hayes today announced he will sell the club after plans for a Sports Village, including a new 17,500-seater stadium, were blocked by the council.

And the businessman warned it was vital that the club find a new home as staying at Adams Park was not "a sustainable long-term option".

Plans for a Sporting Village in High Wycombe for Wasps and League One football side Wycombe Wanderers - both owned by Hayes - are in limbo after Wycombe District Council withdrew its initial support this summer.

It is understood a consortium of potential new backers was being put together but this fell through some months ago.

Hayes has assured Wasps fans he is looking for owners with enough investment to bring financial stability to a club who have already agreed a lucrative contract to bring England flanker James Haskell back to Adams Park next year.

"I believe that London Wasps at Adams Park is not a sustainable long-term option and I and my advisors believe that the Sporting Village plans remain feasible for Wasps as a stand alone club," said Hayes, who took over in 2008. "Therefore, I will work with and encourage any new owner to bring these plans to realisation at an alternative location.

"This process will take time but rest assured that any potential new owner will have to show me that their aspirations are to provide London Wasps with the right level of investment and structure to ensure that they are once again a team in the hunt for titles.

"I remain disappointed that Wycombe District Council withdrew its support for the Sporting Village project and since that time I have been working with the Wasps board to evaluate the best steps forward for the club. I fully believe that a new stadium for Wasps is essential in the coming years."

Lawrence Dallaglio, who remains on the club's board, said: "Steve's passion and vision has helped bring the club to new audiences around the world."