The financial crisis gripping English rugby deepened today when Wasps, one of the nation's most storied clubs, said it was likely to enter into administration because of its debts.
This comes a week after another top-flight club, Worcester Warriors, was placed in compulsory liquidation as it is pursued for unpaid tax.
Both teams would be automatically relegated to the second-tier Championship for going into administration — a form of bankruptcy protection, according to Rugby Football Union regulations.
Wasps, a two-time European champion and six-time English champion, has been an ever-present in the Premiership since the competition began 25 years ago and had some of England's top players like Lawrence Dallaglio and Simon Shaw. Its current squad contains a number of England internationals, including Jack Willis, Joe Launchbury and Jacob Umaga.
Wasps has pulled out of its Premiership match against Exeter that was scheduled for Sunday NZT.