BusinessBusiness RecoveryWasps stung by rumours of HMRC winding up petition

Wasps stung by rumours of HMRC winding up petition

Owner says the club has reached agreement with HMRC over £1m tax bill

Wasps Rugby Football Club has been forced to issue a denial after rumours
circulated suggesting the club was facing a winding up petition from HM Revenue
& Customs over a £1m tax bill.

A
statement
on the club’s website from owner Steve Hayes said: “We remain very confident in
the future of London Wasps both on and off the pitch. There is no winding up
petition and I am surprised by these reports given we already have an agreement
in place with HMRC.

“We have enjoyed great form recently and look forward to a hugely exciting St
George’s Day fixture at Twickenham on Saturday. The short and long term
prospects at the Club, including development of a new stadium, are very exciting
and show the good health of London Wasps.”

Accounts for the year to May 2009 show the club lost £2.6m on a turnover of
£7.6m.

The last significant rugby club to enter administration was
Coventry
in 2008 with Moore Stephens. Net debt was reported at £6.7m.

Read more:

London
Welsh saved

Canterbury
enters administration

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