Wasps’ joint administrators have confirmed that an offer has been accepted from a consortium together with members of the Wasps Legends.
The Coventry-based club – who’ve gained the Premiership 4 instances and the European Cup twice – went into administration on 17 October.
The Rugby Football Union made an announcement on Friday confirming Wasps’ suspension from the Gallagher Premiership and Premiership Rugby Cup for the remainder of the 2022-23 season, with all the taking part in and training employees made redundant as a part of 167 job losses.
The offer is simply for the lads’s rugby group and youth academy, with separate discussions at the moment ongoing for Wasps Women’s Rugby and Wasps Netball golf equipment.
Joint-administrator and accomplice at FRP advisory Andrew Sheridan mentioned: “The consortium knows that it still has to meet all of the RFU requirements, including the fit and proper owners test and the presentation of a three to five-year business plan with supporting robust financial forecasts, and that this needs to completed as soon as is practical in order to be in a position to play next season.
“However, this deal is a significant step forward, and one that we all hope will allow Wasps Rugby to live on.
“We have informed the RFU about this development and the consortium is fully aware of the rugby creditors rules as set out in regulation 5 by the RFU.
“We understand that the consortium will seek to work with the RFU, the RPA and their members to reach a reasonable conclusion on those matters.”
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