Haskell was part of a mass exodus of international stars when he left Wasps for Stade Francais three years ago, as the club's old values began to prove out-dated.
Wasps almost prided themselves on paying low wages and training in basic facilities, knowing that in return they offered players success at club level and international recognition.
Under Warren Gatland and then Ian McGeechan, Wasps grew to become giants of the European game - but their star has faded in recent years.
Haskell, Tom Palmer, Danny Cipriani and Paul Sackey all left to take up lucrative contracts elsewhere while Josh Lewsey retired out of sheer frustration at the direction Wasps were heading.
Last season, Wasps were weeks away from going into administration and they only avoided relegation from the Aviva Premiership on the last day of the campaign.
But owner Steve Hayes is selling out to a former Wasps player Ken Moss, and Haskell believes the club's new vision will see them challenging for honours again.
"I was always a fan of Wasps when I was a child," Haskell said.
"I always wanted to come back here. Some decisions were made that changes had to come in.
"They realised things needed to change and perhaps the way the club had been managed wasn't the right way.
"To be competitive you have to pay players the money, you have to invest in facilities, you can't do things on the cheap because you get left behind.
"With the new owners, hopefully, and with Dai (Young, director of rugby), Wasps will slowly but surely get back to where it deserves to be, and that is at the top of the table."
Haskell and Palmer have both returned to the club this summer as part of a strong recruitment programme, which has also included the signings of Welsh fly-half Stephen Jones, Italian centre Andrea Masi and South African number eight Ashley Johnson.
Wasps already have a core of exciting young players coming through, with the likes of Joe Launchbury, Christian Wade and Elliot Daly close to breaking into the England squad.
Haskell set his sights on becoming a regular in the England squad once again after opting to miss the 2012 RBS 6 Nations to play a season in Japan.
The versatile back row player did return to the side for England's drawn third Test against South Africa in the summer but he has slipped down Stuart Lancaster's pecking order.
"If Wasps go well you always have a chance to get your England place back and that's what I want to do," Haskell said.
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The entire All Blacks apparel line has been updated for 2013/14. Check out the New Zealand All Blacks polo.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Gilbert Blitz 8S rugby cleat is a great cleat at a great price of $69.99. Get a new pair of cleats today.
A cool looking all black rugby cleat with the high performance adidas is known for. Get in the Gear!
Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
The All Blacks Performance t-shirt is black with hints of blue from the training jersey. Very Cool.
The New Zealand All Blacks training jersey for 2013/14. Get in the Gear!
The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.