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:
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.
9. Colin Goldring and Jason Whittingham: net worth - £3 million
8. Newcastle Falcons owner: Semore Kurdi net worth - £20 million
7. Harlequins owner: Duncan Saville net worth - £20 million
Ultimately owned by Union Mutual Pension Fund Ltd, registered in the tax haven of Bermuda. Reported to be owned by financiers Charles Jillings and Duncan Saville
6. Gloucester owner: Martin St Quinton net worth - £20.2 million
Ultimately owned by Martin St Quinton, who made his fortune from selling his company Azzurri Communications.
5. Sale Sharks owner: Simon Orange net worth - £25m
Owned by Simon Orange via a holding company, CorpAcq Ltd. The combined cash at bank value for all businesses where SIMON holds a current appointment equals £20.6m, a combined total current assets value of £99m with a total current liabilities of £119.9m and a total current net worth of £-25m.
4. London Irish owner: Mick Crossan net worth - £45.5 million
3. Bath owner: Bruce Craig net worth - £249 million
The accounts state that the ultimate controlling owner is the sole shareholder, Bruce Craig.
2. Bristol Bears owner: Stephen Lansdown net worth - £1.35 billion
Bristol City majority shareholder Steve Lansdown has lost £370m over the last 12 months, likely as a result of the Covid-19 pandemic, according to the Sunday Times.
Lansdown’s wealth is valued at £1.35bn, down from £1.72bn last year, and the Bristolian billionaire has fallen 22 places in the newspaper’s annual Rich List.
The 67-year-old Guernsey-based businessman is now ranked outside Britain’s 100 wealthiest people, dropping from No83 in 2019 to No105 in 2020.
1. Possible new Wasps owner: Mike Ashley net worth - £2.99 billion
Mike Ashley Chairman of Newcastle United watches Chelsea v Newcastle United from the stands at Stamford Bridge. - Photo mandatory by-line: Dan Weir/Pinnacle - Tel: +44(0)1363 881025 - Mobile:0797 1270 681 - VAT Reg No: 183700120 - 10/01/15 - SPORT - Football - Premier League - Premiership - Chelsea v Newcastle United - Stamford Bridge, Chelsea, London.
TRENDING
LATEST NEWS
LATEST COMMENTS
- Jordie Barrett over Damian de Allende is far from being correct. The hype around Dupont is also overreaching, he's probably 4th in the world and has been since the 2023 WC. He also avoids certain matchups which is strange. The rest of the list is pretty good apart from minor subjective biases.JasonMarlow16-09-2026
Loading
