Editing Wasps RFC (section)

===Financial troubles and administration: 2022===

On 15 May 2022, Wasps failed to repay the £35&nbsp;million [[bond (finance)|bond]] finance they had raised in 2015, however stated they hoped to re-finance by 13 August.<ref>{{cite news|url=https://www.telegraph.co.uk/investing/bonds/despair-investors-trapped-wasps-35m-bond/|work=The Daily Telegraph|date=8 July 2022|access-date=18 October 2022|url-access=subscription|title=Despair for investors trapped in Wasps' £35m bond|first1=Lauren|last1=Almeida}}</ref> On 13 August 2022, Wasps did not refinance the bond, with owner Derek Richardson stating "we are not in administration and we are not going to be" after rumours of administration appeared on the internet.<ref>{{cite news|url=https://www.rugbypass.com/news/wasps-owner-hits-back-at-ill-informed-rumours-about-club/|title=Wasps owner hits back at 'ill-informed' rumours about club|work=Rugby Pass|date=13 August 2022|access-date=18 October 2022|first1=Ian|last1=Cameron}}</ref>
 
On 21 September 2022, Wasps Holdings announced their intention to appoint administrators due to ongoing financial difficulty.<ref>{{Cite web |title=Statement from Wasps Holding Limited |url=https://www.premiershiprugby.com/news/statement-from-wasps-holding-limited |access-date=21 September 2022 |website=Premiership Rugby }}</ref> After a second notice of intention was filed on 4 October, the club were suspended from all tournaments on 12 October due to inability to field a team<ref>{{Cite web |title=RFU statement confirming Wasps suspension from Gallagher Premiership Rugby |url=https://www.premiershiprugby.com/news/rfu-statement-confirming-wasps-suspension-from-gallagher-premiership-rugby |access-date=17 October 2022 |website=Premiership Rugby }}</ref> and Wasps Holdings were placed into administration on 17 October 2022 with all their playing and coaching staff made redundant.<ref name=":0">{{Cite web |last=Bridge |first=Bobby |date=17 October 2022 |title=Wasps' administration confirmed as 167 employees made redundant |url=https://www.coventrytelegraph.net/sport/rugby/wasps-administration-confirmed-club-statement-25282848 |access-date=17 October 2022 |website=CoventryLive }}</ref> The team had their current results removed<ref>{{Cite web |title=Wasps suspended from Gallagher Premiership Rugby and the Premiership Rugby Cup |url=https://www.premiershiprugby.com/news/wasps-suspended-from-gallagher-premiership-rugby-and-the-premiership-rugby-cup |access-date=29 October 2022 |website=Premiership Rugby }}</ref> and were also relegated to the [[RFU Championship]], the second tier of English rugby.<ref name="BBC Sport"/> The club had debts totalling £95&nbsp;million.<ref>{{Cite news |title=Wasps debts totalled £95m, say administrators |work=BBC Sport |url=https://www.bbc.com/sport/rugby-union/63874443 |access-date=12 December 2022 }}</ref>

On 30 October it was confirmed that the administrators had accepted an offer from a consortium to buy the club, with the RFU expecting a 'decision ahead of Christmas.'<ref>{{Cite web |title=Wasps' administrators confirm consortium's offer has been accepted {{!}} Wasps {{!}} The Guardian |url=https://www.theguardian.com/sport/2022/oct/30/wasps-administrators-confirm-consortium-offer-accepted-rugby-union |access-date=9 November 2022 |website=amp.theguardian.com|date=30 October 2022 }}</ref><ref>{{Cite news |title=Wasps & Worcester decisions expected by Christmas |work=BBC Sport |url=https://www.bbc.com/sport/rugby-union/35243029 |access-date=12 December 2022 }}</ref>

The club confirmed on 16 December that the club had been successfully sold and exited administration. It was also confirmed that they had satisfied all RFU requirements to join the Championship from the 2023–24 season.<ref name=":1">{{Cite web |title=Wasps Confirm Return For 2023/24 Season |url=https://www.wasps.co.uk/news/wasps-confirm-return-for-202324-season/ |access-date=18 December 2022 |website=wasps.co.uk }}</ref> They were rumoured to be remaining in the West Midlands as they were rumoured to have agreed a groundshare with [[Solihull Moors F.C.|Solihull Moors]] at the [[Damson Park|ARMCO Arena]].<ref>{{Cite web |last=Sandiford |first=Josh |date=16 December 2022 |title=Wasps new home 'set to be in Solihull' as takeover completed |url=https://www.birminghammail.co.uk/news/midlands-news/wasps-set-announce-armco-arena-25775021 |access-date=18 December 2022 |website=BirminghamLive }}</ref>

Following an extended deadline of 14 February 2023 to submit an application to the RFU Wasps were announced as formally able to compete in the Championship for the 2023–24 season on 15 February. However, this position was rescinded on 18 May 2023 as a result of a failure to hit a deadline to confirm commitments made when the licence was first approved in December. As a result, they will now be placed "at the bottom of the playing pyramid in tier ten" of the [[English rugby union system]].<ref>{{cite news |url=https://www.bbc.co.uk/sport/rugby-union/65634760 |title=Wasps to play 'at bottom of English pyramid' |work=BBC Sport }}</ref>