London Wasps have ramped up the search for new owners and new investment with the club admitting ‘time is short’.
After Wycombe District Council withdraw its support for a new sports village and stadium for the club last year, Wasps have been desperate for new investment and subsequently new owners.
While there was hope a takeover deal had been struck, the club’s board this week announced negotiations had stalled.
In a statement, the club said: “The board, having taken independent advice, is able to confirm that London Wasps Holdings Limited remains nevertheless a going concern.
“However, the board acknowledges the urgency of the current situation surrounding the Club.
“There are ongoing active discussions with other potential investors but the club is seeking, using all best endeavours, further expressions of interest.”
Wasps chairman Mark Rigby said he hoped the club’s long and successful history would spark interest sooner rather than later.
“Wasps is one of the best known brands in the game, and the board is convinced that the right backer exists. Time is however short and we urgently need a new investor or consortium to back this belief.”