EXILES ARE STILL IN DANGER

London Irish may not survive despite American takeover bid

LONDON IRISH’S survival remains in doubt despite assurances by a US consortium that their takeover deal is close to completion.

Wasps and Worcester have already gone bust this season and the Exiles, £30million in debt, are in grave danger of becoming the third English top-flight club to fold.

A representative for the interested party met with players and staff on Friday to inform them their April salaries would not be paid on time. As of last night there was still no evidence they had been.

“Reading between the lines, it appears that London Irish’s negotiations with the American consortium may well have stagnated, creating a cashflow problem,” said Michael Lynch, partner at law firm DMH Stallard and an expert in insolvency matters.

“Ultimately, it comes down to London Irish’s outgoings exceeding revenue, which is unsustainable without support. When that support wants something, there will be shift, especially when a purchasing party ostensibly holds the purse strings.

“This may leave London Irish with little option but to consider more acute and damaging, to the club and community, formal insolvency options.”

There was no comment from either the club or the consortium but the chief executive of Premiership Rugby said he remained optimistic a deal would still be done.

Simon Massie-Taylor said: “We’re in communication with them on both sides and been given the assurances they’re going to get the deal done pretty quickly.”

Mick Crossan (left) has owned the club for a decade but claimed it was costing him £4m a season and has been keen to sell for some time.

“Club rugby has to change,“he said last summer. “Everybody’s suffering. It’s definitely not a sustainable business.”