It’s an earthquake in England, a bit as if in France, the Toulouse stadium disappeared. The Wasps club was placed in receivership on October 17, which should lead to its relegation from the Premiership. He had already been suspended from all competition last Wednesday by the federation. This receivership, according to some English media, results in the dismissal of 167 people from the club, including players and administrative staff.
“The Wasps Holdings Limited club was placed in receivership on October 17, 2022 and immediately ceased operations,” said a statement from the English club. The club is in serious financial difficulty and has been looking for a buyer for several weeks.
According to the English press, the Wasps club is unable to repay a loan of 40 million euros scheduled for last May. A suspension and relegation of this formerly London-based club is a resounding shock to English rugby as it is an institution with four English league titles between 2002 and 2008 and two European league titles in 2004 and 2007.
In the European Challenge, the Wasps are supposed to face Bayonne this season. This bankruptcy illustrates the deep crisis of English rugby clubs which have a cumulative debt of more than 500 million pounds. This is the second English club to suddenly go out of business after Worcester Warriors on October 6th.