One point that is not being mentioned. The rugby creditors are required to attempt to mitigate their losses.
Claiming on credit insurance for example.
Some of the debt will be contingent. Wasps (and Warriors) had term contracts with players, meaning they are legally obliged to pay out the remainder of the contract. But, as the players get contracts elsewhere, they mitigate their claims and the rugby debt decreases. The debt on the players contracts could easily have been ?5-?10m for each club.
So, if a former player has not got a new contract, then their claim will increase every month. If and when Wasps get back up and running, if there are still any players without contract, Wasps could offer them a new (much reduced pay) contract for the period they would have been under contract with Wasps, because they would have to pay that player anyway.
Some of the rugby debt will need paying straight away, but much will be contingent. Indeed, some players and creditors may choose not to pursue their claim.
Some players may have decided to 'retire'.
I do not think it will be as high as some think it will be.