Statement: Wasps respond to reports of administration
Wasps have filed notice in the High Court that they intend to appoint administrators to “protect the club’s interests”.
Wasps Holdings Limited, which includes the Premiership club and Arena Coventry Limited, said the move “does not mean the business is in administration”.
The statement issued to the Coventry Telegraph read: “Due to the impending threat of action from HMRC, Wasps Holdings Limited, the ultimate holding company of the group including Wasps Rugby Football Club and Arena Coventry Limited, have taken the difficult decision to file a notice of intention to appoint administrators in order to protect its interests.”
Wasps said last month they were in talks with His Majesty’s Revenue & Customs over an unpaid tax bill.
The Coventry-based club said earlier this month they were close to securing funds to repay some of the £35m in bonds which helped finance their relocation from London in 2014.
As a result, some of the clubs higher paid player could be moved on
