potential buyers London Irish They were then given until 30 May to complete their purchase of the club. Rugby Football Union (RFU) hit “uncertainty and speculation” caused by a prolonged sales cycle.
The controversial takeover of the club has yet to happen after several months of rumors.
Squad members were believed to be on the verge of sending breach of contract letters ahead of the London Irish final. Gallagher Premier League Match against Exeter Chiefs before the club’s current owner, Mick Crossan, intervened to ensure players and staff were paid.
But after nearly two weeks, little progress appears to have been made in reaching a deal with an American consortium. reported by Times including this weekend former Baltimore Ravens defender Ray Lewis and NBA star Allen Iverson.
And the club that narrowly missed a playoff spot this season has been given until the end of the month to complete the takeover or could face suspension from next season’s Premier League to avoid bankruptcy mid-campaign.
“The proposal to take over London Irish by an American consortium has caused a significant amount of uncertainty and speculation about the future of the club, which has an impact on the club’s players, staff and fans,” the RFU said in a statement. aforementioned.
“As a result, the RFU, Premiership Rugby and RPA are trying to take action to gain more clarity about London Irish’s future. It is imperative that the club be in a position to make it into the Gallagher Premiership in the 2023/24 season and complete that season.
“Therefore, the RFU has set a deadline of May 30: 1) the acquisition of the club is complete and approved by the RFU and the buyers commit to providing all necessary working capital to meet the club’s obligations when due for at least the 2023/24 season; or 2) the club proves that it will continue to fund its operations throughout the 2023/24 season.
“If the club is unable to meet these conditions, participation in the Premiership (and other competitions) in the 2023/24 season will be suspended to avoid a scenario where the club will go into mid-season bankruptcy. Players, staff and fans, as well as the rest of the league. This deadline is a deadline for buyers to provide necessary information and determined to allow sufficient time for the transaction to be completed.”
A dark season saw both Worcester and Wasps come into power.Proving long-held fears about the financial sustainability of English club play as the top flight has dropped to 11 out of 13 teams, Jersey winning the Championship is not eligible for promotion.
Gloucester CEO Lance Bradley has now confirmed that a ten-team Premiership looks like the direction of travel, suggesting that a somewhat hectic schedule might be more appealing to broadcasters.
“A 10-team Premier League plan and it has a lot of benefits” Bradley told BBC Radio Gloucestershire.
“This means you can play all your league games outside of international windows so you always have your best players playing in the league, which is clearly a benefit to the team, to the fans, because you know who to watch and it’s a huge advantage for the broadcaster as well. He’s much more interested in the Premiership.”
The Saracens faced Sale in the Premiership final on Saturday, May 27, after beating Northampton and Leicester respectively in the semi-finals.