Wasps to enter administration and face relegation after their game against Exeter Chiefs was called off this weekend.
A spokesperson for Wasps Holdings Limited, said: “Since filing a notice of intention to appoint administrators on Sep 21, we have been working tirelessly to secure the long-term future for Wasps Holdings Limited, and all of the organisations and clubs that sit within the group.
“Negotiations to secure deals that will allow the Men’s and Women’s rugby teams, netball team and the arena and associated business to move forward are ongoing. However, it has become clear that there is likely to be insufficient time to find a solvent solution for the companies within the group, and it is therefore likely that they will enter into administration in the coming days with a view to concluding deals shortly thereafter.
“While the companies within the group all represent strong and viable businesses, the reality is that they have insufficient cash at this time to continue to fund operations until these complex negotiations have concluded. We have therefore been asking potential funders and investors to provide bridging finance to provide enough time for a solvent solution to be found. Regrettably, this has not been possible to date, although we will continue to pursue this until the very last opportunity.”
WASPS STATEMENT:
All 13 Premiership Club Owners Ranked By Their Net Worth
See where Mike Ashley would rank if he did take over Wasps, though four clubs have no clear owner:
The full list is made up of data from talkSPORT, The Mirror and The Sun.
Exeter Chiefs: N/A
Club states that it remains owned by 700 members, the shares held by John Lockyer, Bob Staddon, Paul Derbyshire and Ian Pugsley acting as trustees.
Leicester Tigers owner: N/A
Most recent annual return notes a large number of individual shareholders; club states that no person owns 50% or more of the club shares.
Saracens: N/A
No overall controlling party following the purchase of the club from Nigel Wray.
Northampton Saints owner: N/A
No overall controlling party.
Now, take a look through the gallery to reveal the estimated net worth of the Gallagher Premiership’s owners and top shareholders.