“Following a meeting of the RFU’s Club Financial Viability Group, the RFU can confirm the suspension of Wasps from Premiership Rugby and Premiership Rugby Cup for the remainder of the 2022/23 season. The RFU is encouraged by the progress made by the administrators.” – RFU
By Michael Cantillon
Last Updated: 28/10/22 6:36pm
The RFU has confirmed Wasps will be suspended for the remainder of the 2022/23 Gallagher Premiership season, but say “encouraging progress” is being made on the search for a new buyer.
Wasps, who already had their relegation to the Championship confirmed due to going into administration and were temporarily suspended, will now not feature for the remainder of the Premiership campaign.
The club were placed into administration early last week and immediately ceased trading. All previously contracted players and staff departed the club as it entered into insolvency.
Worcester Warriors suffered the same fate three weeks before Wasps. The aim for both clubs is now to find new buyers, which will allow them to compete in the Championship next season and rebuild.
“Following a meeting of the RFU’s Club Financial Viability Group today, the RFU can confirm the suspension of Wasps from Gallagher Premiership Rugby and Premiership Rugby Cup for the remainder of the 2022/23 season,” the RFU confirmed on Friday.
“The RFU’s Club Financial Viability Group is encouraged by the progress made by the administrators and it has taken the decision to suspend the team in order to support the prospect of securing a deal with the right investor and giving the club the best chance for a long-term sustainable future.
“Any potential investors and management will require due diligence and approvals from the RFU and PRL. A condition of any potential deal will include a requirement for the payment of all rugby creditors.
“The decision also gives certainty to PRL and Premiership rugby clubs to protect the integrity of Gallagher Premiership Rugby and allow clubs and their teams to plan for the rest of the season.
“Under RFU Regulations, Wasps will be relegated from Gallagher Premiership Rugby, and therefore if investors can be secured, the club will restart in the Championship in season 2023/24. The club is able to appeal this decision if it can show there was no fault insolvency.”
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England international Jamie George has called on the Rugby community to support those affected by the financial problems at Wasps and Worcester