Wasps close to administration
Saints defeat is least of their worries
THIS was an agonising defeat for Wasps but there is bigger trouble ahead. The latest indications are that they are sliding towards administration and relegation — despite Lawrence Dallaglio’s plea for leniency.
The small detail from Coventry is that Lee Blackett’s side squandered a 16-point lead to suffer a third Premiership defeat of the season, but the bigger picture is more grim and profound. Wasps have to come up with £2million this week to cover an unpaid tax bill, or face a winding-up order from HMRC.
The club are struggling to repay a £35m debt from a bond scheme used to finance their relocation to the West Midlands and there are growing fears that a prospective buy-out is dependent on the club following Worcester into administration, for which the punishment is relegation.
Prior to this fixture, Wasps director Dallaglio argued that the fallen European and English champions should be treated differently to the Warriors and spared from demotion. Speaking to BT Sport, he said: ‘I can’t comment on
Worcester but in terms of Wasps, it is a complex situation. Wasps is a rugby club, but it is involved in five other businesses at the Coventry stadium. It is obvious that for the last three years, those businesses have been massively affected by Covid. As a result, Wasps are in the situation they are. They have filed for administration, they are not in administration.
‘Everyone is working to find the right solution. Hopefully that will be a solvent solution, and not one where they are forced into administration, then the RFU would have some decisions to make.
‘They will say any club that is in administration has to go the same way as Worcester but the reality is, do you want to lose one of the biggest brands in world rugby and one of the most successful sides in the Premiership? Let’s hope it doesn’t come to that.’
However, Dallaglio’s comments sparked outrage in Worcester and beyond. They also jarred on a day when Wasps announced an official attendance of 10,249, but that figure appeared to be inflated — with far fewer people in the stadium. On this latest evidence, the big-brand defence is shaky, while Wasps’ financial black hole was dug before Covid came along, when they launched their ill-fated bond scheme.
Former Wasps chief executive David Armstrong, who is believed to be fronting a potential takeover bid, was at yesterday’s game, with club chairman Derek Richardson. They watched Wasps establish a commanding position, only to collapse after Jacob Umaga was red-carded for taking out Courtnall Skosan in the air, while being led from the pitch anyway, in a groggy state.
The resulting penalty try made it 33-28 — after Wasps had led 30-14 just before the hour — and Alex Coles’ second try set up the Saints’ epic fightback, which was rounded off when Skosan crossed in the right corner.
Saints director of rugby Phil Dowson was relieved that his side had won, but offered words of support to the beleaguered opposition. He said:
Asked if he felt sympathy for Wasps, Down said: ‘ Yeah, massively. Wasps are a club with a lot of history and they are in limbo at the moment. I really hope they can get through this.’