Derek Richardson

  • Richardson Named As Wasps Benefactor

    Irish businessman Derek Richardson has become the principal shareholder of London Wasps. As exclusively revealed by Running Rugby in February, Wasps had secured financial backing from an unnammed overseas investor - that man can now be revealed as being Richardson, an entrepreneur in the insurance market who founded and sold 123.ie, Ireland’s first online insurance broker. London-based Richardson is currently involved in a number of other insurance businesses in Europe. In the long term, it ap...

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  • Wasps Reveal £6.3m Overall Profit

    ... to June 2014, revealing that the club made a profit of £6.3 million. That figure does not tell the whole story as Wasps RFC actually made an operating loss of £4 million but absorbed a company called Canmango, which was previously owned by director Derek Richardson, and that added £10.6 million to the accounts. The club had costs of £8.5 million in the year to June 2014 before they made the move from Adams Park in High Wycombe to the Ricoh Arena in Coventry, including £5.8 million on wages...

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  • Wasps Reveal Management Shake-Up

    Wasps have revealed a new structure at the top of the club that sees owner Derek Richardson become chairman, Nick Eastwood take on the role of deputy chairman and David Armstrong join the club as group CEO. The move is said to be aimed at ensuring the best long-term future for the club and its home at the Ricoh Arena and Mark Rigby has been named president with Chris Wright, who owned Wasps when they won 11 trophies in 11 years between 1997 and 2008, given the role of honorary lifetime president...

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  • Income And Losses Grow In Wasps' First Year At Ricoh

    ... Coventry Limited (ACL) in December 2014. The results revealed revenue for the group was up by 44% to £30.9million with an operating loss of £3.8million, which compared to a £2.4million loss for 2014/15. That loss was in part attributable to what chairman Derek Richardson described as an “indifferent result” for the MTV Crashes event held at the Ricoh Arena. Earnings before interest, tax, depreciation and amortization (EBITDA) - a measure of the company’s operating performance - stood a...

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  • Wasps And The Ricoh Improve Half-Year Results By £1.8m

    ... books. It is due to pay back the loan as a bulk sum in 2022 and bond holders earn 6.5 per cent interest annually from the club. Wasps have a £600,000 unsecured loan from HSBC repayable over a 36 month period. The group also has a £11.7m loan from owner Derek Richardson. Interest due has been waived for the six months to December 2016, but normally stands at four per cent above Barclays Bank’s base rate. Mr Richardson is able to call in the loan with 12 months and one day’s notice. Click h...

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  • Wasps' Armstrong Steps Down

    Wasps Group CEO, David Armstrong will be stepping down in June, at the conclusion of the rugby, netball and concert seasons. Deputy chairman, Nick Eastwood will take on the role. Armstrong will remain on the board of Wasps as a non-executive director. Derek Richardson, Wasps’ chairman, commented: “David’s impact on Wasps has been huge, from leading the original purchase of the Ricoh Arena and the club’s relocation to Coventry, to the launch of our Retail Bond, the redevelopment of our ho...

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  • London Wasps Name CVS As Main Sponsor

    ... apart from the competition," he said. "Sponsoring Wasps is a watershed moment for CVS. Wasps’ competitiveness and desire to win is a perfect reflection of our own brand values. I am genuinely excited about the future of London Wasps with new owner Derek Richardson and a talented team of players under the guidance of Dai Young. We are proud at CVS to be there at the start of this new era and are looking forward to a great season." Wasps chief executive Nick Eastwood added:  "We’re delighte...

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  • McGrath To Oversee €65m Curragh Development

    Former European rugby chief Derek McGrath is to oversee the planned €65 million redevelopment of Ireland’s Curragh Racecourse, according to the Irish Times. Curragh Racecourse Ltd said on Tuesday that it has appointed Mr McGrath as chief executive of the company, which will own, operate and redevelop the racecourse and training grounds in Co Kildare. McGrath was chief executive of European Rugby Cup Ltd from 2000 to 2009, when he was responsible for the the club rugby competitions, the He...

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  • Major League Ticket Experience for Rugby Expo

    Rugby Expo has announced that Leigh Castergine, vice president for ticket sales and services for Major League Baseball's, the New York Mets will share his expertise at their conference in November. Leigh will be joined by Derek Palmer, managing director & executive VP, International of headline sponsors Tickets.com and supplier to the Mets for a main stage presentation on day one of Rugby Expo, bringing together a wealth of experience to discuss how rugby clubs can maximise revenue and en...

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  • Koukash And Beaumont Take Rivalry To The Boxing Ring

    Salford owner Marwan Koukash and Leigh chairman Derek Beaumont have announced they will go head-to-head in a charity boxing contest later this year. Koukash revealed their plans via Twitter, confirming the pair would fight it out in Leeds on Friday, October 6th the eve of this season’s Grand Final. “I will beat the s**t out of him,” Koukash tweeted. The two friends currently have a £5,000 wager on a weight loss challenge, with both aiming to reach a target weight of 15-and-a-half stone ...

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