Wasps suspended from Premiership and set to enter administration 'within days'
However, if Wasps were to go into administration, they would also face relegation.
ITV agreed a new deal with Premiership Rugby to broadcast a number of matches, including the Twickenham final, on free-to-air television earlier this year. "Since filing a notice of intention to appoint administrators on 21 September, we have been working tirelessly to secure the long-term future for Wasps Holdings Limited, and all of the organisations and clubs that sit within the Group," the statement continued.
Wasps' decision was taken after revealing they have "insufficient cash" to carry on operations without new investment. Interested parties were asked to provide "bridging finance" to bide the club enough time for "a solvent solution" to be found.
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