sport news Wasps move to reassure players and staff that the club are NOT going bust trends now
sport news Wasps move to reassure players and staff that the club are NOT going bust trends now
Wasps move to reassure players and staff that the club are NOT going bust after serving notice of intention to go into administration for failing to pay back £35m of debt Wasps are trying to reassure players and staff that the club is not going bust The club were due to pay back £35million in May, but failed to meet the deadline They have issued a notice of intention to appoint an administrator this afternoon The Wasps also sent an email around to its staff confirming the latest news They also could face relegation from the Premiership at the end of the season
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Wasps were last night frantically trying to reassure stunned, worried players and staff that the club are not about to go bust, after serving notice of intention to go into administration.
At a time of financial turmoil in the English game, the Coventry-based club were forced to take drastic action, to stave off the threat of a winding-up order from HMRC.
Wasps have been scrambling to secure the investment needed to belatedly pay back £35million of debt from a bond scheme used to help finance their move to the West Midlands from London in 2014.
If Wasps were to go into administration, with the current season underway, the punishment
