Wasps Holdings Limited, the holding company for Wasps men’s and women’s rugby teams, and Wasps netball, ceased trading on Monday; 167 employees were made redundant; an RFU statement on Tuesday says the union is having daily discussions with the administrators about possible buyers
Last Updated: 18/10/22 6:42pm
The RFU is speaking daily to the administrators of Wasps Holdings Limited
The Rugby Football Union are in daily discussions with the administrators of Wasps Holdings Limited about the possibility of a buyer for Wasps and are working to find the ‘best way’ for the women’s team to continue to play in the Allianz Premier 15s, a statement said.
Wasps Holdings Limited is the holding company for Wasps men’s and women’s rugby teams, and Wasps netball ceased trading on Monday. Andrew Sheridan and Rajnesh Mittal of FRP were appointed as administrators and 167 employees were made redundant.
The RFU released a statement on Tuesday providing an update regarding ongoing discussions, as buyers are sought for the club and in relation to the women’s rugby team.
“Following confirmation that Wasps Holdings Limited has entered administration, the RFU is speaking daily to the administrators and will be working with them and Premiership Rugby in the coming days to understand whether there is any possibility of a buyer taking over the club,” the statement said.
“The RFU is also working with the administrators, the management of the Wasps women’s team and with Wasps FC to find the best way for the women’s team to continue to play in the Allianz Premier 15s. The RFU is also fully committed to ensuring local academy opportunities are provided for pathway players.”
Tom Illube, the RFU chair, expressed his empathy for everyone involved with Wasps.
“The news Wasps are now in administration is desperately sad,” Ilube said.
“We believe it is right to keep working with all parties to give the club the best chance of long-term survival if at all possible. We all feel for the fans, players, volunteers and everyone with a connection to the club.
“The importance of financially robust and transparent professional leagues has never been more apparent, and we will continue our work with Premiership Rugby to improve the structure, governance and business model of rugby union in England.”
Bill Sweeney, the RFU’s CEO, also stated that continuing to work towards a sustainable future for English rugby is of the highest priority.
“This is a very sad time for everyone at Wasps and a challenging time for the sport,” Sweeney said.
“The RFU and Premiership Rugby have been working for some time to develop a sustainable model for rugby to deliver long-term prosperity for the sport. Wasps and Worcester entering administration has accelerated these plans and reinforced their importance.”
