PREMIERSHIP rugby club Wasps has announced it will be appointing administrators due to an impending threat from HMRC.
In a statement released tonight, Wasps Holdings Limited – the holding company of the group including Wasps Rugby Football Club and Arena Coventry Limited – said it had taken the difficult decision to ‘file a notice of intention to appoint administrators in order to protect its interests’.
It went onto stress the move did not mean the business was in administration but provides it with a ‘crucial period of grace to continue negotiations with a number of interested parties to secure the long-term future of the group’.
And it added: “These negotiations have been going on for some time, are in advanced stages and we are hopeful of securing a deal.
“In the meantime, the day-to-day operations of the business are unaffected, and we will continue to support our players, staff, supporters, bond holders and suppliers, and keep them fully updated during what we appreciate will be an unsettling time.”
