Latest on Irish from Chris Foy just now

[NellyWellyWaspy]

The Times are reporting that the RFU have imposed a deadline of May 30 (and Monday 29 May is a bank holiday) for the London Irish takeover to be completed. It also appears that whilst the players were paid, most other creditors were not. The saga is not over, yet.

[Rossm]

I think I've said this before but there is an awful feeling of deja vu about this.

[Skippy]

Don?t teams going into administration in the off-season simply pick up a 25 point penalty for the following season? If that?s the case and as there?s no relegation, Irish might be wise to get it over and done with as soon as the final whistle blows on the Prem Final

[Sliminator]

That may well be the plan, quickly drop into administration and sell as a pre pack (much like Wasps hoped that they could do).

[Bloke in North Dorset]

That only works out if there?s no relegation next season. Has that been announced yet?

[DGP Wasp]

Don't they want 10 teams from 2024/25? In which case something will have to give next season.

[NellyWellyWaspy]

That may well be the plan, quickly drop into administration and sell as a pre pack (much like Wasps hoped that they could do).

Brentford already want them gone from their stadium. Any form of insolvency would likely end their contract. So they would have nowhere to play. And they still have to pay all rugby creditors.

I could see the RFU suddenly deciding relegation is happening next year, but nobody is coming up.

[Shugs]

They?re relegated if they go into admin - which they will. It hands the PRL Baxter?s preferred 10 team league (their long term stated objective of the last 10 months). What happens to Irish? They don?t care or know.

[baldpaul101]

In the cases of Irish & Warriors what I cannot understand is why any "investors" from the US or otherwise, who don't have a personal relationship to the club, would want to put money into saving it?
Warriors have land assets, but these are tied up in a 5 year restriction.
Irish, have pretty much no assets.

Why, would any sane person that isn't in love with either club want to sink their cash into them?

[NellyWellyWaspy]

In the cases of Irish & Warriors what I cannot understand is why any "investors" from the US or otherwise, who don't have a personal relationship to the club, would want to put money into saving it?
Warriors have land assets, but these are tied up in a 5 year restriction.
Irish, have pretty much no assets.

Why, would any sane person that isn't in love with either club want to sink their cash into them?

You could say the same of any club, or any sport. Wasps, for example.

[baldpaul101]

You could say the same of any club, or any sport. Wasps, for example.

From what little we know of Wasps new owners they would appear to have a personal interest, or "love" of Wasps.
Whatever you feel about the current & recent crop of sugar daddies (Derek included, for now) they all seem to have a genuine love of their chosen club (together with large ego's!) and are happy to expend their own money in pursuit of success.

Why would you put money into a club you had no interest in? (I didn't use the term "invest" because no one is likely to see a return!)

[Vespula Vulgaris]

In the cases of Irish & Warriors what I cannot understand is why any "investors" from the US or otherwise, who don't have a personal relationship to the club, would want to put money into saving it?
Warriors have land assets, but these are tied up in a 5 year restriction.
Irish, have pretty much no assets.

Why, would any sane person that isn't in love with either club want to sink their cash into them?

Irish own Hazelwood, their training centre, in Sunbury. There's a fairly decent sized main building with offices, a gym, and space to run events, as well as at least five pitches.

[baldpaul101]

Irish own Hazelwood, their training centre, in Sunbury.

According to the LI board, there would be major issues around planning permission on that site (no idea what that would be)
secondly, no idea whether LI actually own it, or Like the EPIC, is it owned by A.n.Other related company?
Thirdly, I would expect there would be a much easier way for the "American Investors" to acquire a plot of land for development than go through the hassle of buying a distressed rugby club, then folding it & building luxury housing.

According to the LI board, again, most of their debts are to the current owner. If he is prepared to write those off, I don't think LI would be in that bad a shape, they "just" need new owners who can inject enough capital to pay the bills and keep the club afloat.

[Brandnewtorugby]

Of all the clubs in the Prem I would say London Irish are the most likely to have American support, from wealthy Americans of Irish heritage.

[Rossm]

Of all the clubs in the Prem I would say London Irish are the most likely to have American support, from wealthy Americans of Irish heritage.

Good point.