Wasps targets fans with retail bond

Rugby club offers annual interest of 6.5% and hopes to raise up to £35m to pay off debtsInvestors are being offered a return of 6.5% a year on a bond issued by Wasps rugby club, which is hoping to tap fans for up to £35m.The bond is secured against the club’s new home, the Ricoh Arena in Coventry. Although it can be put into an Isa, making the 6.5% interest tax-free, there is a sting: like other retail bonds there is no safety net protection scheme for investors if the club ever goes bust. Related: Buy-to-let looks tempting as rates tumble Bear in mind that this isn’t a guaranteed invest…