The RFU has imposed a deadline of the end of this month on London Irish to complete a takeover; Gallagher’s Premiership club has been in lengthy talks with an American consortium, which has so far provided no evidence of funds to complete the purchase
London Irish have been given a deadline to complete a potential acquisition
The RFU has given London Irish a May 30 deadline for the takeover of the Gallagher Premiership club to be completed.
The Exiles have been in lengthy talks with an American consortium about an acquisition, but that deal has yet to be finalized.
Employees received their April pay a week late and the club had to cover their wages, with the payments finally being made two days before their final Premiership game of the season against Exeter Chiefs last Saturday.
The players also required proof that their insurance premiums had been covered before taking the field for that match.
The Brentford-based club wrapped up their campaign with a 17-14 win over Exeter and afterwards director of rugby Declan Kidney sounded optimistic.
“These guys have gone from championship to 10th, to 9th, to 8th and now to 5th,” Kidney said.
“We’re planning a rich future with the age of the guys on the field, that’s what we’re building it on.
“There’s a great future for this club on the pitch and I’m sure the people off the pitch will do the business and make it happen.”
However, the RFU has enforced the deadline for the takeover because prospective buyers have so far provided no proof of funds.
The Irish are £30m in debt and last year owner Mick Crossan said he would sell the club for £1 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.
London Irish ended the season with a win over Exeter
It follows a season in which the Wasps and Worcester Warriors of the Premiership collapsed due to financial problems.
Wasps are aiming to return in the second-tier Championship for the 2023/24 season, while Worcester’s future remains shrouded in uncertainty.
