BREAKING: English rugby giants Wasps enter administration

Wasps have been placed into administration - with all the players made redundant - and face relegation from the English Premiership.

Oct 17, 2022 - 17:32
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BREAKING: English rugby giants Wasps enter administration

English rugby giants Wasps were Monday placed into administration – with all the players made redundant – and now face relegation from the English Premiership.

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The cash-strapped club was suspended from the crisis-torn English top flight last week after  confirming they were “likely” to enter administration.

Wasps not the first English club to enter administration

A statement from the club on Monday said: “Wasps Holdings Limited… was placed into administration on 17 October 2022 and immediately ceased to trade.”

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Wasps are the second Premiership club to enter administration in a matter of weeks following Worcester.

Wasps’ financial crisis has been sparked by a failure to meet a May deadline to repay £35 million in bonds, which helped finance their relocation to Coventry from London in 2014.

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