Wasps: Premiership club follow Worcester Warriors into administration

The club went into administration within 21 days, making 167 players and staff redundant.

Last week, the club was suspended by the league.

They have suffered the same fate as their rivals, and will be demoted.

It is possible that the Arena may still avoid going into administration.

A new notice of intention to appoint administrators has been filed by the company that entered administration.

The fortnight's grace will give time to find more funding for the stadium.

The city council could take over the running of the CBS Arena so that the games can still be played.

There were meetings set up for Monday to let players and staff know of the training ground.

Wasps Holdings Limited in administration

The associated coaching and support teams are part of the holding company.

In a statement, Andrew and Raj said that they had been appointed as joint administrators of the company.

167 employees were made redundant, including members of the playing squad and coaching staff.

A small number of employees have been retained to support the orderly wind down of the company and the operation of the CBS Arena, which is unaffected by this administration.

This is a bad day for rugby in England.

It will be devastating news for every player, staff, past players, sponsors, and anyone who has ever been associated with the club.

The first priority is to support those who have lost their jobs. This will be a challenging time for everyone, and we will be assisting them in making claims to the service.

Over the last few weeks, the board and many others across the club have worked hard to find a solution that would allow the club to move forward, and it is with great regret that there has been insufficient time to do so.

We are confident that a deal will be reached that will allow the club to continue.

The Wasps' life - how did it come to this?

• 1923 - Having started life in Finchley Road, Wasps move into their first permanent home in west London at Repton Avenue, Sudbury.
• 1996 - Sudbury ground is sold for housing and the club move across west London to share QPR's home at Loftus Road.
• 2002 - Wasps move again, further west to share Wycombe Wanderers' home at Adams Park.
• 2007 - Wasps play in Coventry for the first time, beginning their defence of the Heineken Cup against Munster, in front of a Ricoh Arena crowd of 21,506.
• Sept 2014 - Rumours first circulate that Wasps might leave High Wycombe for Coventry - just as Coventry City return to the Ricoh Arena after 14 months in exile in Northampton following a rent row.
• Oct 2014 - Coventry City Council unanimously approves the sale of shares in Arena Coventry Ltd to Wasps.
• Dec 2014 - Wasps move to Coventry, taking over as Ricoh Arena landlords, with the help of a loan from Coventry City Council.
• June 2022 - Wasps put in a £13m funding application to the West Midlands Combined Authority.
• 18 Aug 2022 - Wasps' owner gives up training ground as off-field issues mount
• 19 Aug 2022 - Wasps confirm dialogue with HMRC over unpaid tax bill
• 5 Sept 2022 - Wasps tell investors they are close to securing funds to repay bondholders, due in May, following the £35m raised to purchase the Ricoh Arena in 2014.
• 21 Sept 2022 - Wasps file notice to the High Court in London that they intend to appoint administrators to "protect the club's interests".
• 4 Oct 2022 - Wasps in talks with potential investors
• 11 Oct 2022 - American billionaire John McEvoy considers bid for club and CBS Arena