Last Updated: 17/10/22 2:44pm
Wasps have been placed into administration and have immediately ceased trading, a statement from the club has announced.
Wasps Holdings Limited is the holding company for Wasps men’s and women’s rugby teams, and Wasps netball. The company now has ceased trading, with Andrew Sheridan and Rajnesh Mittal of FRP have been appointed as Administrators.
The Coventry-based club had a debt pile that included an unpaid tax bill owed to HM Revenue & Customs and faced having to repay a £35m bond which had helped finance the club’s relocation to Coventry in 2014.
More to follow…
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