Wasps RFC set to enter into administration

The six-time Premiership rugby champions will become the second side to enter into administration in as many weeks, with Worcester Warriors appointing administrators last week. 

Following a meeting of the Rugby Football Union’s (RFU) Financial Viability Group, Wasps have been suspended from the Gallagher Premiership - with this weekend’s fixture against the Exeter Chiefs being postponed. 

An RFU spokesperson said: “We appreciate this is a very difficult time for Wasps players, staff and supporters who will be concerned at news that the club is likely to enter administration. 

“The RFU will continue to work with the club, Premiership Rugby and any potential administrator or future investors to find the best possible outcome for the club.”

The business filed a notice of intention to appoint administrators on 21 September, with negotiations to secure deals to allow its men’s and women’s rugby teams, as well as its netball team, the arena and associated business ongoing. 

The administration throws doubt into the two-time European Rugby Champions Cup champion’s current home ground, the Coventry Building Society Arena.

The freehold for the arena is held by Coventry City Council, who granted Wasps a 250-year lease when the club bought the venue’s operating company as part of their move back in 2014. The council has now warned the club that any insolvency proceedings could see Wasps forfeit ownership of the ground.