Wealthy Wasps vow to respect club salary cap

Wasps “are not the kind of club” to challenge the Aviva Premiership salary cap or “spend huge money” on new recruits despite joining Europe’s money elite, according to their chief executive.

David Armstrong has vowed Wasps will hold firm to long-standing principles even after securing one of the highest turnovers in European rugby.

The Premiership club launched a retail bond listed on the London Stock Exchange on Monday, cementing their new status as one of the world’s richest rugby clubs.