Wasps legends Lawrence Dallaglio and Kenny Logan have revealed that two more Premiership clubs are in deep trouble after both Wasps and Worcester were suspended by the RFU.
The club have twice filed notice to get insolvency experts in to help with their debts, which run to tens of millions of pounds.
They face becoming the second side to go into administration within weeks, following Worcester Warriors last month.
Logan spent seven years with Wasps, helping them win one Premiership title and the Anglo-Welsh Cup twice.
He told talkSPORT: “There are other clubs on the verge of where Wasps are.
“The key thing now is the stakeholders getting together and thinking of the best way to move forward.
“There are no alarm bells here. Everyone in rugby knew this was coming.
“They’ve just waited until it fell to do something. Wasps now have to try and survive.”
PREMIERSHIP CLUBS RANKED BY TOTAL DEBT:
#13. Exeter Chiefs – £13m
#12. Gloucester – £27m
#11. Northampton Saints £26.5m
#10. Worcester Warriors – £26.5m
