The RFU speaks daily with the managers of Wasps Holdings Limited
The Rugby Football Union is in daily discussions with the directors of Wasps Holdings Limited about the possibility of a buyer for Wasps and is working to find the “best way” for the women’s team to continue playing in the Allianz Premier 15s, a statement said. .
Wasps Holdings Limited is the holding company for the Wasps men’s and women’s rugby teams, and Wasps netball delisted on Monday. Andrew Sheridan and Rajnesh Mittal of FRP were appointed administrators and 167 employees were fired.
The RFU released a statement on Tuesday providing an update on 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 speaks daily to the administrators and will work with them and Premiership Rugby in the coming days to understand if there is any chance of a buyer taking over the club,” it says. the notice. he 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 playing in the Allianz Premier 15s. The RFU is also fully committed to ensuring that the local academy opportunities are provided for players on the way.
RFU Chairman Tom Illube expressed his empathy for everyone involved with the Wasps.
“The news that Wasps is now in administration is desperately sad,” Ilube said.
“We believe it is right to continue working with all parties to give the club the best chance for long-term survival, if possible. We all feel sorry for the fans, players, volunteers and everyone with a connection to the club.”
“The importance of financially sound 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, CEO of the RFU, 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 the 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 that will deliver long-term prosperity for the sport. The Wasps and Worcester administration has accelerated these plans and reinforced their importance.”
Debts, including unpaid taxes to HMRC and £35m to bondholders in respect of the stadium property, have finally put Wasps into administration.
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On Monday, Wasps chief executive Stephen Vaughan said there had been dialogue with the RFU and Premiership Rugby regarding Wasps’ relegation from Gallagher’s Premiership.
“They have been very good to us, very honest with us. They understand the situation and the difficulty the RFU is facing is, I guess, the precedent it can set with other clubs.”
“But yeah, we’re in dialogue with them now to see what we can do. And of course we’ve gone into administration, but that doesn’t mean we won’t continue to have conversations with people and we will continue to do so.” .
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Wasps CEO Stephen Vaughan confirms the club are in dialogue with the RFU over their possible relegation from the Premiership after entering administration.
“We understand that we will probably have to go back to the Championship next year, but there are a lot of players who would love to stay with the Wasps, whether it be in the Championship or the Premiership.
“This club has been running for over 155 years, if it means six months elsewhere to bring it back with really good, solid, honest ownership, a great leadership team and the core group that is there now, then I think We’d take that.” This day.
“Hard to say [how close a takeover is]. People are aware that we’ve been in the market for a long time, so it’s not like this is a surprise to anyone.
“We are in a genuine dialogue with people, we have more conversations tomorrow (Tuesday) and the day after tomorrow, and we really hope that we can get the right people involved.
“If it’s going to happen, we imagine there will be a decision and an announcement in the next three or four days.
“Nope [the P-share is not the key]. It is not a red herring, but it is something that makes the club much more attractive for an investor to enter. However, it is not the only thing.
“We understand why it is there and why the other investors [in the Premiership] he may not want to help Wasps or Worcester, especially.
“And we have to understand that the way Premiership Rugby is set up, the owners and investors have all the power, and I’m not sure it’s right, but that’s how it’s set up. So we can’t trust the P – Share.
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James Haskell believes the Wasps and Worcester’s entry into administration is indicative of wider problems in professional rugby.
“All the conversations we’re having right now are not based on P-stock. It’s a very honest conversation about what the financial picture looks like.
“What I would really like to see is Premiership Rugby having real responsibility to the leadership group that can make decisions.
“Currently the way it’s set up, and it’s not Premiership Rugby’s fault, is that the owners of all the clubs make decisions about all the other clubs. And that’s just not right.
“A bit like the NFL and the NBA, I think we should have a commissioner, that would be essential, so that decisions can be made for the common good.
“Because for an amazing institution like Wasps, with some really great and talented people here, not being able to continue when there are people who want to invest but because particular parts of governance or contracts don’t allow that to happen, that’s pretty hard to deal with. .
“It won’t just be the Wasps. It’s the Wasps today, Worcester a couple of weeks ago and it will be other clubs in the future. We need strategic governance that allows the CEO of Premiership Rugby to make decisions.”