Wasps are set to overtake Toulouse and become the richest club side in the world, according to chief executive David Armstrong.

The team are expected to announce a retail bond listed on the London Stock Exchange tomorrow, which will earn them over £35m.

The club moved to the Ricoh Arena in Coventry from their previous home in High Wycombe last year, and Armstrong thinks that it has had a massive effect.

He told BBC Sport: "We were previously the second-lowest revenue-generating club in Premiership rugby. We are now the second highest in Europe. In terms of size of revenue, we will overtake Toulouse in the next few months. We are in a very strong position financially."

The move to Coventry has meant that the club have reaped the benefits of the new stadium, and Armstrong believes that they are breaking the mould.

He added: "This is creating a new financial model in rugby. The old model of either owning a purpose-built rugby stadium, or even being a tenant in somebody else's stadium, has now been superseded by what we've done.

"I'm sure lots of other clubs will look at that, and find their own ways to try and emulate that - there are some very strong clubs in England - but for now we have set the bar much higher."

Wasps are currently sixth in the Aviva Premiership.