Wasps forced to return with the begging bowl

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Wasps are in grave danger of going into administration unless they can attract new investment by the end of the Premiership season, following the collapse of takeover talks.

The club have been looking for a new owner since last July, when Wycombe District Council withdrew their support for the construction of a new stadium.

Wasps were close to completing a takeover deal last week but that arrangement has fallen through, leaving the club in a precarious financial position.

It is understood Wasps have enough funding to see them through the next month, which would allow them to complete the Premiership season, but the club need urgent investment to remain in business beyond May.

Wasps, who are still not safe from relegation, have returned with their begging bowl to three parties who had previously expressed an interest in the club while issuing an urgent appeal for potential new investors to step forward.

It emerged last week that Wasps’ current owner Steve Hayes had been arrested and bailed as part of Scotland Yard’s computer-hacking investigation.

Bath have confirmed that forwards coach and former England lock Martin Haag will join Sir Ian McGeechan in leaving the club at the end of the season.