By Jonathan Davies

Wasps Rugby Football Club has launched a bond to raise between £25 million and £35m.

The seven-year bond will pay 6.5% in interest semi-annually until 2022.

Minimum investment stands at £2,000 with additional bonds being sold at £100 each.

Wasps, formally known as London Wasps, moved to Coventry in December 2014 after buying the owners of the Ricoh Arena - a 32,600 seater stadium which also doubles as a 40,500 capacity concert venue.

Wasps has seen its average attendance more than treble to 18,569 in the four months since it moved to the stadium.

Chief executive David Armstrong said: "The move to the Ricoh Arena was transformational for Wasps and our new home provides us with multiple income streams and the opportunity to create one of the UK's premier sport, business and entertainment complexes, while offering sponsors and partners the exciting opportunity to get involved with the new second home of English rugby.

"This is another step in achieving our aim of creating a long-term sustainable business model."