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