Wasps Rugby face administration in fight for survival

The club is in talks with HMRC after it failed to pay tax and was served with a winding-up order.

Bosses are also still struggling to repay £35 million it borrowed when it moved the club from High Wycombe to Coventry in 2014.

While confident they will secure the finance needed to prevent administration, failure to do so could result in automatic relegation from the Premiership.

However, the Rugby Football Union has the discretion to reduce or waive any sanction if the insolvency was deemed to be beyond the control of the club, including in circumstances such as a pandemic.

"Due to the impending threat of action from HMRC, Wasps Holdings Limited has taken the difficult decision to file a notice of intention to appoint administrators in order to protect its interests," a statement from Wasps Holdings Limited read.

"This measure does not mean the business is in administration but provides a crucial period of grace to continue negotiations with a number of interested parties to secure the long-term future of the group.

"We are hopeful of securing a deal."

"These negotiations have been going on for some time, are in advanced stages and we are hopeful of securing a deal.

"In the meantime, the day-to-day operations of the business are unaffected and we will continue to support our players, staff, supporters, bond holders and suppliers. We will keep them fully updated during what we appreciate will be an unsettling time."

So far, there is no concern about the Wasps' fixture against Bath on Friday and it is going ahead as planned.

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