Wasps under investigation by Financial Conduct Authority for 2017 declarations
By Sky Sports News
Last Updated: 12/04/19 1:38pm
Wasps are under investigation by the Financial Conduct Authority regarding an overstatement of revenue in 2017, Sky Sports News understands.
The FCA are calling in officials from the Premiership club for interview as it looks into the accuracy and timings of the club's financial declarations.
The probe centres on £1.1m-worth of overstated earnings in 2017, which was blamed on "accounting irregularities".
Wasps Holdings owns the Ricoh Arena stadium, where the rugby team plays, but it is also set to lose League One football club Coventry City as a tenant.
Sky Sports News reported earlier this week that Coventry are in discussions over two ground-share options elsewhere, with Wasps continuing to refuse to enter talks over a new lease with the football club due to their owners SISU's ongoing legal battle with Coventry City Council.
Both the FCA and Wasps declined to comment on the investigation when contacted by Sky Sports News.