Wasps have confirmed that the club have entered administration in a short statement with 167 employees have been made redundant including playing staff.
They said: “Wasps Holdings Limited (the “Company”) was placed into Administration on 17 October 2022 and immediately ceased to trade. Further information is available here.
“The affairs, business and property of the Company are being managed by Andrew Martin Sheridan and Rajnesh Mittal of FRP who were appointed Joint Administrators. The Joint Administrators act as agents of the Company and without personal liability.
“Please note that Arena Coventry Limited and IEC Experience Limited, which operate the businesses at arena in Coventry, are not in Administration and continue to trade as normal.”
They are now the second club to enter administration this season following Worcester Warriors three weeks ago.
More to follow.
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PREMIERSHIP CLUBS RANKED BY TOTAL DEBT:
#13. Exeter Chiefs – £13m
#12. Gloucester – £27m
#11. Northampton Saints £26.5m
#10. Worcester Warriors – £26.5m
