London Irish could be the latest victims of the rugby financial crisis gripping the Gallagher Premiership.
Here we look at the clubs most affected by the grim outlook.
The first club placed into administration back in September, Worcester’s future is still uncertain despite being taken over by Jim O’Toole’s Atlas Group.
Entrance into the second tier Championship has been blocked by the Rugby Football Union for their failure to meet certain conditions and their plan of joining with Stourbridge and relaunching in the fifth tier appears dead in the water.
The month after Worcester folded, Wasps followed them into administration as the league suffered the crushing blow of losing one of English rugby’s most famous brands.
In light of our current financial situation the Men’s team have withdrawn from this Saturday’s fixture against Exeter Chiefs.
— Wasps Rugby (@WaspsRugby) October 12, 2022
Further misery was to come as having targeted rebirth in the Championship, the failure to meet certain conditions forced the RFU to revoke their license and demote them to the foot of the rugby pyramid.
Burdened by debts of around £30million and with an owner desperate to sell in Mick Crossan, London Irish are shaping up to become the next club to be removed from the Premiership during the rugby financial crisis.
All staff must be paid today for the month of May for Irish to be granted a deadline extension for their proposed takeover by an American consortium. The clock is ticking.
Leicester needed an emergency cash injection of £13million from directors Peter Tom and Tom Scott in to address what chief executive Andrea Pinchen described as “very challenging conditions”.
A letter from the club to shareholders sent in March stated that if the funding was not approved, there would be no option but to appoint administrators.
Even Exeter, one of the few clubs in the pre-pandemic era to operate at a profit, were forced to take special measures in December.
Chiefs owner Tony Rowe bought a stake in a hotel owned by the club in order for it to service its debts, including Covid loans issued by the Government. Rowe’s intervention has sured up the finances for the time being.
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