London Irish’s future hangs in the balance as the club nears the Rugby Football Union’s (RFU) takeover deadline at the end of May 30.
The proposed takeover is by an American consortium and has to satisfy at least one of two conditions laid out by the RFU that include: the buyers must have the capital available to complete club obligations ahead of the 2023/2024 season or prove the club can be continuously funded going forward through next season.
Facing a harsh reality
Failing to do so could result in the club being suspended from the Premiership, placed in administration and ultimately relegated to the Championship.
The club’s future has been thrown into further doubt as it has been reported that the consortium has not yet produced proof of their funding, which will be imperative given the deadline laid out by the RFU.
London Irish are £30m in debt which makes the takeover more complicated. The club’s fate will be decided in a meeting on Tuesday.
The concerns first appeared with late pay for April as the players almost did not take to the field against Exeter Chiefs until assurances that their insurance premiums were up to date were provided.
Looking elsewhere
The RFU’s rules state that players can leave their club for free if they are not paid within 14 days of the proposed payment time.
It is believed that some of the Exiles players are already looking for other options to continue their careers.
London Irish are not the only club to have dealt with financial hardships this season with both Wasps and Worcester Warriors having gone into administration and been relegated.
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Wasps’ situation worsened even further as they were dropped to the bottom of the rugby pyramid in England after a “lack of progress” was shown by the club.