Rewind five years, Wasps had just finished a point away from relegation the season before and had apparently come within an hour of going bust.
Things were so bad the new director of rugby, Dai Young, was having to pay for physiotherapy tape and away team buses from his own pocket.
They even struggled to fill the 10,000 capacity Adams Park stadium they rented from Wycombe Wanderers near London.
What a difference five years makes.
Now they are top of the English Premiership, they boast one of the strongest squads in the league and... are based in Coventry.
Here are five ways they've turned things around.
New ownership
The players go through scrum practice
"You can't buy success in sport, but if you've got money you can do things that you can't do without it," acknowledges the club's deputy chairman, Nick Eastwood.
In the case of Wasps he's got a point.
Yes, the money from new owner Irish businessman, Derek Richardson, has helped, but they've invested in more than just big names.
Big names
Australian Kurtley Beale is one of the most exciting players in the game
As summer transfer windows go, Wasps have gone box office this year by securing the services of Australian, Kurtley Beale, although he's recovering from a knee injury.
They've also signed South African full back, Willie Le Roux, who is nothing short of electric. Not only that they've welcomed back mercurial fly half Danny Cipriani.
They've kept a lot of players too
England second row Joe Launchbury (on the left in case...never mind)
In the tougher times Dai Young was forced to blood youngsters like Joe Launchbury, Sam Jones and Elliot Daly.
If those names sound familiar it's because those very players have now become England internationals, and retaining their services was just as important for Wasps as bringing in superstars.
They've got better training facilities
OK maybe not right now, as the squad are currently put through their paces in the world's biggest cabin at Broadstreet rugby club.
But their own facility is being built just down the road and will be a vast improvement on Twyford Avenue, the west London training ground they shared with QPR.
They now have a world-class stadium
Despite enjoying their most successful years there by bringing home multiple Premiership and European titles, Adams Park was not an ideal home for Wasps.
They often wouldn't fill the modest ground which they rented off Wycombe Wanderers, but nevertheless grew a loyal fan base.
Many of those fans won't be able to make the trip to Coventry, but the club will be able to start over in the Ricoh Arena, which they can call their own after buying it.
This means they now get more revenue from gates and corporate events, making Wasps a more sustainable business.
All this said though, Wasps haven't won silverware for eight years now and it is still early in the season, but they've never been in a stronger position.
Find us on Instagram at BBCNewsbeat, external and follow us on Snapchat, search for bbc_newsbeat
