Wasps enter administration and could be relegated from the Premiership

Wednesday, 21 September 2022 at 17:11

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byRugby Rucker

The Telegraph have reported tonight that Wasps could be relegated from the Gallagher Premiership over unpaid bonds.

They've reported that 'The club filed notice to appoint an administrator on Wednesday over the £35m in debt owed by the club to bondholders, who were due to be repaid in May.

'The initial investment was used to buy the Coventry Building Society Arena in 2014, after Wasps relocated from London.'

RFU guidelines suggest that any club who enters administration could be automatically relegated from the top flight.

This completed an awful day for Premiership rugby after it was confirmed that Worcester could be suspended from rugby on Monday.

The RFU have set two deadlines for troubled club.

1) 12pm tomorrow – correct conditions for the match to go ahead against Newcastle this weekend.
2) 5pm Monday – insurance cover, funds to meet the monthly payroll and “a credible plan to take the club forward”

More to follow.

England players wages revealed with £460k-a-season Marcus Smith the second highest earner

#10. Tom Curry (Sale Sharks) - £430,000 per season

Tom Curry of England during the Autumn Nations Match between England and Tonga at Twickenham Stoop on 6 November 2021. Photo: Tom Sandberg/PPAUK

#9. Courtney Lawes (Northampton Saints) - £450,000

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#8. Henry Slade (Exeter Chiefs) - £450,000

Henry Slade of England kicks the conversion during the Autumn Nations Match between England and Tonga at Twickenham Stoop on 6 November 2021. Photo: Tom Sandberg/PPAUK

#7. Marcus Smith (Harlequins) - £460,000

Try Celebrations for Marcus Smith of England during the Autumn Nations Match between England and Tonga at Twickenham Stoop on 6 November 2021. Photo: Tom Sandberg/PPAUK

#6. Mako Vunipola (Saracens) - £500,000

Mako Vunipola of England during the Autumn Nations Cup match between England and Ireland at Twickenham Stadium, Twickenham, London on November 21 2020. - PHOTO: Phil Mingo/PPAUK

#5. Billy Vunipola (Saracens) - £520,000

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#4. Ellis Genge (Bristol Bears) £520,000

Ellis Genge of England Rugby is tackled by Will Rowlands of Wales during the Six Nations Championship match between England and Wales at Twickenham Stadium, Twickenham, London on February 26th 2021. - PHOTO: Phil Mingo/PPAUK

#3. George Ford (Sale Sharks) - £550,000

Leicester Tigers player Ellis Genge during the Gallagher Premiership rugby game between Leicester Tigers and Harlequins at Mattioli Woods Welford Road on Dec 5th - PHOTO: Steve Bond/PPAUK

#2. Maro Itoje (Saracens) - £800,000

Maro Itoje of the Saracens during the Gallagher Premiership Rugby Match between Bath Rugby and Saracens at the Recreation Ground on 17 Oct. Photo: Steve Haag/PPAUK