Lieutenant Andrew Waid (1736-1804), an Anstruther man, left his money for the founding of Waid’s Orphan Naval Academy for the sons of poor mariners and fishermen. For a variety of reasons it was not possible for his wishes to be carried out in the years following his death, and for much of the 19th century his will was ignored and the value of his estate accumulated. At last in 1884, Commissioners appointed under the Educational Endowments(Scotland) Act of 1882, proposed a scheme for his money to be used for the creation of a secondary school to serve the East Neuk of Fife. In the same year their scheme was approved by the Queen in Council and on 6th September 1886, The Waid Academy opened for the first time. It was the first school in Scotland to be created under the 1882 Act and its constitution became a model for other schools which were created or changed as a result of the Act.

The Waid Academy Rugby Clubs origins date back to 1888 when pupils, staff and others formed what was known as the Etceteras, as early as 1890 they played rugby and since then apart from breaks during the first and second world wars, the Club has functioned continuously.

After the second world war the Club was formed by former pupils returning home after demobilisation. Since then it has had an unbroken history, though there have been times when it has survived only with difficulty because so many rugby playing former pupils have had to leave the East Neuk to seek employment and further education elsewhere.

In the early years of the Club the president of the Club was also the School PT Master, a tradition which continued up until the early 60's.

Waid FP Rugby Club continue to play their home matches at Waid Academy pitches to the rear of the School. In the early years rival teams were treated to refreshments in local hostelries, this tradition changed when the Rugby Club members were fortunate enough to have the opportunity to purchase an old bakery in the High Street at Anstruther. This was duly converted by the members into a clubhouse and was opened on 2nd September 1983.