Harlequins announce bond issue to raise £7.5m

Some of the money will be used to strengthen the squad as the Premiership salary cap next season will increase by £1m to £6.5m.

Quins will also use the proceeds to promote the club in the United States, where they are going on tour this summer, and to improve the dressing rooms at The Stoop.

The club are following the lead set by Wasps, who raised £35m last season to fund their move to the Ricoh Arena in Coventry.

The bonds are open until May 16, and Quins chief executive David Ellis said: “The proceeds will enable us to invest in the club and take us to new levels and to continue to stay ahead of the game as it grows.

“The focus for the club is to continue to invest in the areas that positively impact the business including our players, supporters, partners, community projects and the Harlequins Foundation, enabling us to build on our commercial achievements and contribute to our long‑term future success, both on and off the field.”

The minimum investment in the bond is £2,000.