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Wasps sends notice of intent to appoint administrators | News about Rugby Union


“Wasps Holdings Limited, the last holding company of a group comprising Wasps Rugby Club and Arena Coventry Limited, has taken the difficult decision to submit notice of intent to appoint an administrator for its protection. its interests,” a statement said.

Last Updated: 9/21/22 8:40pm

Wasps Holdings Limited & # 160;  is the last holding company of a group consisting of Wasps Rugby Club and Arena Coventry Limited

Wasps Holdings Limited is the last holding company of the group comprising Wasps Rugby Club and Arena Coventry Limited.

Wasps Holdings Limited has filed a ‘notice of intent’ appointing administrators to protect the interests of the group, which includes Wasps Rugby Club and Arena Coventry Limited.

In a statement shared with sports sky, Wasps Holdings Limited said the measure provides a window of time for negotiations to continue with interested parties who can secure its future.

“Due to the threat of impending action from HMRC, Wasps Holdings Limited, the last holding company of the group comprising Wasps Rugby Club and Arena Coventry Limited, has taken the difficult decision to file informed of its intention to appoint administrators to protect its interests,” the statement said.

“This measure does not mean the business is under management but provides an important grace period to continue negotiations with a number of interested parties to secure the long-term future of the group.

“These negotiations have been going on for some time, are in an advanced stage, and we hope to reach an agreement.

“In the meantime, the day-to-day operations of the business are not affected and we will continue to support our players, employees, supporters, bondholders, and vendors, and keep them updated. Full update for us during what we appreciate will be a worrying time.”

Wasps will face automatic relegation if the Gallagher Premiership club falls into the hands of management.

The Rugby Union confirmed emergency talks are underway to clarify the club’s current situation.

An RFU statement read: “RFU is in dialogue with Wasps, and we will work with them to understand what their current actions, sustainability plans look like and next steps.”





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