Wasps in Administration
WouterEarlier this week, Wasps Holdings Limited, the holding company for Wasps Men and Wasps Netball, confirmed that it had ceased trading and that it was in administration. As a result, the club’s entire playing squad, coaching staff and support staff have been made redundant.
Wasps is suspended from the Gallagher Premiership Rugby League for the remainder of the 2022/23 season. The club’s management are in ongoing discussions with interested parties to find a solution. The club’s women’s team is also working with the RFU to find a way to continue in the Allianz Premier 15s.
The club’s men’s team have been withdrawn from Saturday’s Premiership game against Exeter Chiefs. Wasps management have vowed to do everything in their power to find a solution. They are also working on deals for the club’s associated business.
The club’s administration is overloaded with player/staff wages. It will not be able to meet regulatory requirements without a deal. Wasps must pay all rugby creditors and demonstrate that it has the means to do so.
Wasps management say they are confident of securing a deal. It is hoped that they can conclude it within two weeks.
Wasps is a 155-year-old club and has won six English Championships, three Anglo-Welsh Cups and two European Cups. The club has also won a record three consecutive Anglo-Welsh Cups.
The RFU said it was working with Wasps to find a solution. It will also be looking into the possibility of a buyer taking over the club. It will also conduct a parliamentary inquiry.
