Wasps CEO Nick Eastwood has said that he is excited by the opportunity at the Ricoh Arena and not worried that ACL made a loss of £392k up to May 2014.
Speaking to the Coventry Telegraph's Simon Gilbert, Wasps CEO Nick Eastwood said: “Having reviewed the accounts in depth, we are very confident about the potential profitability of the business and we have robust plans in place to deliver this.
“Before buying the Ricoh Arena, we conducted extensive due diligence and took into account that ACL were operating under extraordinary circumstances last year and understood this would be reflected in the end of year results.
“The recent media coverage refers to financial accounts prior to Wasps’ acquisition and we are all incredibly excited about the opportunity we have ahead of us here at the Ricoh Arena.
“We have been overwhelmed by the support we have received since our move to Coventry. The match attendance figures and demand for hospitality have far exceeded our expectations and we are confident of being able to build on that positive start to expand our fan base and grow our business.
“The prospects for the business going forward are greatly enhanced by the fact that both Wasps and Coventry City are now playing their games at the Ricoh Arena.”
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