The RFU has imposed a deadline of the end of this month for London Irish to complete a takeover or risk suspension; the Gallagher Premiership club have been in protracted talks with an American consortium, who have so far failed to provide proof of funds to complete the purchase
Monday 15 May 2023 20:03, UK
London Irish have been given a deadline of May 30 by the RFU for a takeover of the Gallagher Premiership club to be completed.
The Exiles have been in protracted talks with an American consortium over a takeover, but that deal has yet to be finalised.
Seeking assurances that the club will be in a position to take its place in the Premiership for 2023/24 - and will be able to complete that season - the RFU wants one of the following resolutions by their May 30 deadline:
The RFU added in a statement: "If the club fails to meet these conditions, it will be suspended from participating in the Premiership (and other competitions) in season 2023/24 to avoid a scenario where the club enters insolvency mid-season, with the corresponding and substantial impact that has on players, staff and fans, as well as on the remainder of the league."
Employees of the club received their April pay a week late and the club had to cover their salaries, with payments eventually going through two days prior to their final match of the Premiership season against Exeter Chiefs last Saturday.
The players also demanded proof that their insurance premiums had been covered before taking to the field for that match.
The Brentford-based club concluded their campaign with a 17-14 win over Exeter and afterwards, director of rugby Declan Kidney struck an optimistic tone.
"These lads have gone from Championship to 10th, to ninth, to eighth and now to fifth," Kidney said.
"We're planning for a rich future with the age of the lads out on the pitch, that is what we are building it on.
"There is a rich future for this club on the pitch and I'm sure the people off the pitch will do the business and see it through."
However, the deadline for the takeover has been enforced by the RFU because the prospective buyers have so far failed to supply proof of funds.
Irish are £30m in debt and last year owner Mick Crossan said he would sell the club for a pound, if he could.
If the takeover does not happen, Crossan's future investment and London Irish's existence as a Premiership club would be in serious doubt.
It follows a season in which fellow Premiership side Wasps and Worcester Warriors both collapsed due to financial problems.
Wasps are aiming to return to the second-tier Championship for the 2023/24 season, while the future of Worcester remains shrouded in uncertainty.
