Fears of third top-flight team expulsion in eight months if club fail to complete deal by May 30th
Failing that, the Exiles must demonstrate capacity to fund the club next term. Expulsion would be a colossal blow for the Premiership given the demises of Wasps and Worcester this season.
It remains to be seen if Crossan can continue to fund the club next term if the takeover is not completed before the RFU’s deadline, given Irish have debts of around £30 million and he has been looking to sell all season. That they are tenants of the Gtech Community Stadium makes them a less attractive proposition for investors, though their state-of-the-art training centre in Sunbury is an impressive asset.
The RFU is evidently desperate to avoid a repeat of the Worcester situation, so too Premiership Rugby which, along with the union and the Rugby Players Association, has been applying pressure on Irish to provide certainty. There is desperation to avoid another club going bust even though a 10-team league has been identified as the optimal solution from 2024 onwards.
An RFU statement read: “If the club fails to meet these conditions it will be suspended from participating in the Premiership [and other competitions] in season 2023-24 to avoid a scenario where the club enters insolvency midseason, with the corresponding and substantial impact that has on players, staff, and fans, as well as on the remainder of the league.”
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