Wasps' full statement after RFU pull plug
Following the revocation of their Championship licence by the Rugby Football Union (RFU) for the upcoming season, Wasps have released a statement responding to the decision and laying out the difficulties they faced.
The famous side are now effectively compelled to embark on a rebuilding process from the lower echelons of the league pyramid.
Any hopes of a potential resurgence for the Wasps under the ownership of HALO22 Limited have been shattered, as the club failed to meet the RFU’s deadline for demonstrating their ability to operate at the required standard.
The club’s inability to fulfill several obligations has contributed to this outcome, including the failure to provide evidence of settling outstanding debts and establishing an appropriate governance structure.
The statment reads: “It has been an all-consuming 7 months since the 17th of October 2022. Our first task was to save and secure the brand, the IP, and the legend – and in that we have been successful. Since then, we have been constantly involved in the resurrection of the club with the intention of competing in the 2023 RFU Championship.
Operating in a void between regulatory authorities that were managed by strict governance requirements, and a championship that had not been engaged in our membership and who, perhaps understandably, offered some resentment to our inclusion, has been challenging.
“Our recovery to date has been managed by a very small team who have been dealing with the operational and financial issues and requirements of the RFU and PRL since our engagement in November 2022 when we were successful in the approval process to enter the RFU Championship in September 2023.
“That approval was subject to initial and then continuing requirements around financing, ground, rugby creditors and the demanding governance provisions. During our approval process, and since, we have continually reminded the RFU that we would not repeat the mistakes of the post by allowing a single point of failure, and that we would not commit to any employment or contract unless we were sure that we would be able to fund the expenditure for the season.
“We have embarked on a wide-ranging, and professional search, for suitable funding. From the outset we had interest from various sources who engaged in their own due diligence, some in depth to the extent that they had direct contact with the governing bodies.”
Wasps have said that a lack of clarity around the game in England hasn’t helped in attracting new investment.
“Whilst the investment interest continues, we regret to say that the current state of rugby finances, the lack of clarity on the league structure and concerns over promotion has caused the investor group to remain silent and fatigued.
“On two occasions we asked the RFU for an extension of time to secure funding and to satisfy the rugby creditors. Our requests were refused on both occasions. Whilst we understand the need for regulatory conformity and the administration of the league, the only reason we needed that extension was for the RFU to establish a clear vision and direction of travel so that our investor pool were able to see equitable funding for the Championship and a clear pathway to promotion.
“Indeed, the recent revelations around the possible ring fencing of the Premiership for 3 to 5 years to protect it has further weakened our investment position. There is the suggestion that a route for promotion could exist with a play-off between the bottom of the Premiership playing the winner of the Championship. Given there is a deficit of £4m+ in funding between the Premiership and the Championship, then the only route of promotion includes the very problem of excessive funding that perpetuates the business system failure.
“We had made progress in certain areas though. We have a kit deal, significant sponsorship from a global brand, and a choice of grounds to play at. We have 232 players and 37 coaches available to select a team from. We have also identified strong local authority support for our own stadium, and whilst some have criticised us for even considering a new stadium option, their rush to judgement ignores the stark reality that rugby at the higher levels needs supplementary income to survive without owner funding-which is the single point of failure we are determined to avoid.
“Rugby alone will not provide a sustainable business, until it is properly governed and financially supported.
“The arrangements and direction regarding the rugby creditors has also been troublesome. We were handed the responsibility of others to identify, validate, audit, and settle the rugby creditor claims inherited from the previous administration. We established a system to manage this process and acknowledged our moral obligations to complete it.
Following our regrettable exit from the Championship, our understanding is that the rugby creditors will now revert back to the administrators for the claims to be pursued against Wasps Holdings Limited (In Administration). We will work with the administrators on this.
“So, what will happen now?
“The journey continues with utter determination and commitment to ensure that WASPS continues its 156-year history in a sustainable rugby environment that shares the vision and values that the new club aspires to.
“We are extremely grateful for the loyal support and concern from our global fan base. Our silence has been deliberate and necessary. Firstly, we had nothing definitive to say that couldn’t have changed the following day, and often did, and secondly, we only recovered our social media accounts and rebuilt a new web site in the first week of May. You will hear more from us soon.”
Such disappointing news. Long journey back to the top, but if any club can do it, @WaspsRugby can. Once a Wasp, always a Wasp ?
— Joe Simpson (@joesimpson9) May 18, 2023
Former scrumhalf Joe Simpson wrote: “Such disappointing news. Long journey back to the top, but if any club can do it, Wasps can. Once a Wasp, always a Wasp.”
Comments on RugbyPass
Christie is not Sottish, like the majority of the Scotland team.
2 Go to commentsHold the phone, decline over-rated. Is it a one game, dead cat bounce or the real thing? Has the Penney dropped? Stay tuned.
44 Go to commentsTotally deserved win for the Crusaders Far smarter than the Chiefs who seem to be avoiding the basics when it matters Hotham showed them what was missing and Hannah seems a real find - a tad light but that can be fixed over time
8 Go to commentsGreat insight into the performance culture with Sarries and I predict Christie will be a fixture in the Scotland team now for some time to come. However, he is slightly missing his own point around Scotland “being soft” when he cites physicality examples in defence of that slight. The issue is much closer to the example he referenced around feeling off before a game but being told “it doesn’t matter, you can still play well” by Farrell. Until Scotland can get their psyche in that square, they will carry on folding under extreme pressure…
2 Go to comments> We are having to adapt, evolve and innovate more than when we were in Super Rugby where there was only really one style that everybody had to play to gain the most success. Have = able to? Interesting what that one style might be? I thought SA sides still had bad tours now, or at least bad schedule, months away? Those extra few hours flights have to be a killer though, no surprise to see their sides doing so badly at the start of the season each year. I wouldn’t enjoy that unfairness as a supporter.
5 Go to commentsThe problem for NZ, and Aus, is they ripped up the SR model and lost a massive chunk of revenue that hasn’t been replaced. Don’t forget SA clubs went North because they were left with no choice, Argy unceremoniously binned and Japan cast adrift. Now SR wasn’t perfect, far from it, but they’ve jumped into something without an effective plan, so far, to replace what they’ve lost. The biggest revenue potential now lies in Japan but it won’t be easy or quick to unlock, they are incredibly insular in culture as a nation. In the meantime, there is a serious time bomb sitting under SH rugby and if it happens then the current financial challenges will look like a picnic. IF the Boks follow their provincial teams and head north then it’s revenue meltdown. Not guaranteed to happen but the status quo is a very odd hybrid, with the Boks pointing one way and the clubs pointing the other way. And for as long as that remains then the threat is real.
44 Go to commentsI think Etene has had some good tuition, likely while at the Warriors to be a professional that helped his rugby jump, but he was certainly thrown in the deep end way too early. Should have arguably 20 less SR caps, and therefor a way better record that he does at his age, but his development would have been fast tracked by the need to satiate his signing away from league. Again, credit to him and others that he has done it so well. Easy to fall over under that pressure in the big leagues like that but he kept at it when I myself wasn’t sure he was good enough.
1 Go to commentsAwesome story. I wonder what a bigger American (SA) scene might have mean for Brex.
1 Go to comments“Johnny McNicholl and the Crusaders” save a Penney. Who has been in camp this week and showed them how to play?
8 Go to commentsSo, reports of the Crusaders’ demise / terminal decline are perhaps just - slightly - premature/exaggerated…? 🤔 Will we see a deep-dive into that by the estimable Rugbypass scribes, and maybe one or two mea culpas? Thought not.
8 Go to comments1. The Chiefs are rudderless without DMac, which enhances his AB chances 2. Chiefs pack are powderpuffs. The hard men arent there anymore 3. They had their golden title chance last yr and wont threaten this yr. Gone in second round of playoffs.
8 Go to commentsHonestly, why did you have to publish such a foolish article the day they play us? 😂
44 Go to comments> They are not standalone entities. They are linked to an amateur association which holds the FFR licence that allows the professional side to compete in the league. That’s a great rule. This looks like the chicken or egg professional scenario. How long is it going to be before the club can break even (if that is even a thing in French rugby)? If the locals aren’t into well it would be good to se them drop to amateur level (is it that far?). Hope they can reset from this level and be more practical, there will be a time when they can rebuild (if France has there setup right).
1 Go to commentsWhat about changing the ball? To something heavier and more pointed that bounces unpredictably. Not this almost round football used these days.
35 Go to commentsThis is the problem with conservative mindsets and phycology, and homogenous sports, everybody wants to be the same, use the i-win template. Athlete wise everyone has to have muscles and work at the gym to make themselves more likely to hold on that one tackle. Do those players even wonder if they are now more likely to be tackled by that player as a result of there “work”? Really though, too many questions, Jake. Is it better Jake? Yes, because you still have that rugby of ole that you talk about. Is it at the highest International level anymore? No, but you go to your club or checkout your representative side and still engage with that ‘beautiful game’. Could you also have a bit of that at the top if coaches encouraged there team to play and incentivized players like Damian McKenzie and Ange Capuozzo? Of course we could. Sadly Rugby doesn’t, or didn’t, really know what direction to go when professionalism came. Things like the state of northern pitches didn’t help. Over the last two or three decades I feel like I’ve been fortunate to have all that Jake wants. There was International quality Super Rugby to adore, then the next level below I could watch club mates, pulling 9 to 5s, take on the countries best in representative rugby. Rugby played with flair and not too much riding on the consequences. It was beautiful. That largely still exists today, but with the world of rugby not quite getting things right, the picture is now being painted in NZ that that level of rugby is not required in the “pathway” to Super Rugby or All Black rugby. You might wonder if NZR is right and the pathway shouldn’t include the ‘amateur’, but let me tell you, even though the NPC might be made up of people still having to pull 9-5s, we know these people still have dreams to get out of that, and aren’t likely to give them. They will be lost. That will put a real strain on the concept of whether “visceral thrill, derring-do and joyful abandon” type rugby will remain under the professional level here in NZ. I think at some point that can be eroded as well. If only wanting the best athlete’s at the top level wasn’t enough to lose that, shutting off the next group, or level, or rugby players from easy access to express and showcase themselves certainly will. That all comes back around to the same question of professionalism in rugby and whether it got things right, and rugby is better now. Maybe the answer is turning into a “no”?
35 Go to commentsWow, didn’t realise there was such apathy to URC in SA, or by Champions Cup teams. Just read Nick’s article on Crusaders, are Sharks a similar circumstance? I think SA rugby has been far more balanced than NZs, no?
4 Go to commentsBut here in Australia we were told Penney was another gun kiwi coach, for the Tahs…….and yet again it turned out the kiwi coach was completely useless. Another con job on Australian rugby. As was Robbie Deans, as was Dave Rennie. Both coaches dumped from NZ and promoted to Australia as our saviour. And the Tahs lap them up knowing they are second rate and knowing that under pressure when their short comings are exposed in Australia as well, that they will fall in below the largest most powerful province and choose second rate Tah players to save their jobs. As they do and exactly as Joe Schmidt will do. Gauranteed. Schmidt was dumped by NZ too. That’s why he went overseas. That why kiwi coaches take jobs in Australia, to try and prove they are not as bad as NZ thought they were. Then when they get found out they try and ingratiate themselves to NZ again by dragging Australian teams down with ridiculous selections and game plans. NZ rugby’s biggest problem is that it can’t yet transition from MCaw Cheatism. They just don’t know how to try and win on your merits. It is still always a contest to see how much cheating you can get away with. Without a cheating genius like McCaw, they are struggling. This I think is why my wise old mate in NZ thinks Robertson will struggle. The Crusaders are the nursery of McCaw Cheatism. Sean Fitzpatrick was probably the father of it. Robertson doesn’t know anything else but other countries have worked it out.
44 Go to commentsIt could be coincidental or prescient that the All Blacks most dominant period under Steve Hansen was when the Crusaders had their least successful period under Todd Blackadder and then the positions reversed when Razor took over the Crusaders.
44 Go to commentsDefinitely sound read everybodyexpects immediate results these days, I don't think any team would travel well at all having lost three of the most important game changers in the game,compiled with the massive injury list they are now carrying, good to see a different more in depth perspective of a coaches history.
3 Go to commentsSinckler is a really big loss for English rugby.
2 Go to comments