User:Pixelania/sandbox
Administration and Suspension[edit]
In September 2022, The club was informed that a potential new investor was in advanced discussions to purchase the club from current owner Mick Crossan. The deal was headed by then CEO Mark Bensted who was confident in the success of the buyout. Crossan was also optimistic about the deal having said to the Daily Mail that he would "be willing to give the club away for free" should the right person come along [1]. At the time, the English Premiership had just lost Worcester Warriors bringing the teams down to 12. Although a clear reason was never given nor was the investor named, the deal collapsed which forced Mark Bensted to resign with immediate effect [2] and lead to CFO Adrian Alli being named his interim successor. The week following saw Wasps enter administration forcing Irish to have no incoming revenue for the entire month of November having been booked to play them on the 5th and 18th respectively. Because of this and other factors, London Irish elected to take out a loan through the Department for Culture, Media and Sport ensuring sufficient cash flow which would be paid back over time. In December, contact was made between Powerday (Irish's parent company) and a consortium of groups who had been looking to invest in a club in the English Premiership market. Originally they had settled on Saracens who initially accepted the offer and launched into discussions but following legal advice from an appointed counsel, Saracens ceased discussion with the reason being "Lack of financial evidence" to support the club going forward. The consortium then moved to London Irish who, after weeks of communication between various groups, entered an Exclusivity agreement to ensure that the consortium had full access to the purchase of the club and no other investment firms could make a bid at that time. Irish informed the RFU that heightened negotiations were taking place between the group and the club with a business plan submitted to show that the firm could turn a profit in the coming 5-years and expand to the United States and make London Irish a known brand, mainly on the East Coast in predominantly native Irish areas in New York, Boston and Chicago.
Crossan, adamant of a successful transfer of ownership, agreed between all parties that he would not put any money into the club for the remainder of the 2022-23 Season and the money the club had on its books would see them out until the end of the season which was when the takeover was slated to be completed by. The completion date was then brought forward to April marking a smooth transition and change of ownership before the next season commenced.
In early May 2023, The Times posted a story alleging that wages for all staff had not been paid [3] which was later confirmed by the club as true. It was also published in articles from other outlets that Members of Irish's Executive had attended a meeting with the RFU's Financial Viability Board which had raised questions as to the integrity of the takeover. Due to play Exeter Chiefs for their final game of the season on May 6th, Players had emergency discussions with the Rugby Players' Association on May 4th to discuss options going forward. Players did not want to play the fixture as their medical insurance had not been paid, meaning if a player sustained an injury during the match, they may not receive the healthcare that their contract entitled them to. Players had also drafted up Breach of contract letters which were due to be submitted at 17:00 the same day if they did not receive payroll and assurances their medical insurance would be covered before the fixture. Premiership Rugby stepped in to assure players that they would cover medical insurance for this fixture but couldn't provide any information owing to salary payment. 15 minutes before the deadline, an email from Tara Crossan, Daughter of Owner Mick Crossan was sent to all staff confirming that the April Payroll would be paid by them to cover the funds which were meant to be covered by the Consortium who had agreed to make payment from the end of April. They had alleged that delays to the takeover had occurred as the consortium ran into legal red tape which should have been sorted before the next payroll. Many media sources at this time had discovered 3 of the 4 groups in the consortium who were leading this takeover, with NUE Capital, Redstrike Sports and 777 Partners being the force behind this joint bid with Alfred 'Chip' Sloan leading the bid for NUE Capital and Howard Thomas leading the bid for Redstrike[4].
With pressure building on the club to push through the sale, Premiership Rugby issued an ultimatum to finalise the sale by May 30th or be fully suspended from the Gallagher Premiership for the 2023–24 Season[5]. At this time, the club had finished all its scheduled matches and placed 5th in the league, their highest placing since 2009. This period allowed the club to attempt emergency discussions with the consortium to provide clarity on delays and the future of the deal. The deadline day arrived with no news or confirmation of a deal being announced forcing the RFU to consider the club's outcome. Players had discussed with the RPA if any extension could be given to allow further talks to continue. The RFU agreed to a week-long extension on the two conditions that Powerday paid the May Payroll and the Consortium could provide evidence of financial stability. These were agreed to at the meeting by both parties, however, Crossan later retracted his end of the bargain and brought the payment down to 50% of the staff payroll. In a last-ditch effort to save the club, captain Matt Rogerson was forefront in negotiations between both Powerday and the consortium highlighting the human cost this had on the players and staff who had made London Irish what it was.
To add to the current issues, on 2 June 2023, London Irish received winding-up petitions from HM Revenue and Customs (HMRC) over an unpaid tax bill believed to be up to £1 million[6][7]. This unpaid bill, although never confirmed, was likely in relation to the loan the club took out in November 2022 and from the COVID-19 relief loan given to all rugby clubs during the 2020 Pandemic.
The second deadline day had now been reached with again minimal news about the progress of the deal. With most players now away from the club for the off-season and staff working in the dark about the club's future, a virtual conference call was made before the 16:00 deadline. The call included a reading of an issued statement by the RFU confirming that the club had now been suspended from the English Premiership. Staff had only received 50% of their payroll at this time with no details being released about their outstanding salaries.
Following the failed buy-out bid by American-based Consortium and current owner at the time, Mick Crossan, not wishing to fund the club any further due to loss of personal revenue, London Irish was placed into administration on June 7th 2023 with all staff and players being made redundant and all company offices being closed indefinitely. London Irish's charity foundation, operating as a separate entity continues to host fundraisers and events in the West London area. Hazelwood Centre also remains open for venue sales and use of the training field which is used by Gael Londain and London Irish Wild Geese for matches. Supporters of the club based in the local area regularly attend Wild Geese games keeping the spirit of the club going. [8]
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| Full name | London Irish Rugby Football Club | |
|---|---|---|
| Union | Middlesex RFU, Surrey RFU, Irish RFU | |
| Nickname(s) | The Exiles, The Drummers | |
| Founded | 1898 | |
| Location | Sunbury-on-Thames, Greater London, England | |
| Most caps | Topsy Ojo (301) | |
| Top scorer | Barry Everitt (1,234) | |
| Most tries | Topsy Ojo (46) | |
| 2022–23 | Premiership, 5th (Final placement before ejection from league) | |
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| Official website | ||
| www | ||
London Irish RFC is a professional rugby union club, currently in administration, which competed in the Premiership, the top division of English rugby union. The club had also competed in the Anglo-Welsh Cup, the European Champions Cup and European Challenge Cup. While playing in the Championship in 2016–17 and 2018–19, it also played in the British and Irish Cup and RFU Championship Cup. The club played home games at the Madejski Stadium in Reading, Berkshire for twenty years, before moving for the 2020–21 season to the Gtech Community Stadium in Brentford, West London.
The club was founded in 1898 following the creation of London Scottish and London Welsh for the same reason, allowing Irishmen the chance to play rugby with fellow countrymen in the English capital.
London Irish won their only major trophy, the Powergen Cup, in 2002 and reached the 2009 Premiership final, losing 10–9 to Leicester Tigers.[9] In the 2007–08 season, the team came close to a place in the Heineken Cup Final, losing out to Stade Toulousain 15–21 in the semi-final.[10]
In the 2022/23 season, a buyout of the club missed crucial deadlines multiple times forcing uncertainty within the club. To avoid suspension from the Premiership, the RFU issued an ultimatum to the club to provide financial assurances that they could continue paying players and staff with the proposed takeover to follow imminently. London Irish missed this deadline and were consequently excluded from competing in 2023/2024 season - not only in the Premiership but in all professional tiers of Rugby Union in England.[11]. The club remains in administration with no announcement
- ^ "London Irish tycoon Mick Crossan reveals he is ready to give the club away for NOTHING after almost a decade of ownership". Daily Mail. 3 September 2022. Retrieved 3 September 2022.
- ^ "Chief executive Bensted leaves London Irish". West London Sport. 3 October 2022. Retrieved 3 October 2022.
- ^ "London Irish could follow Wasps and Worcester into financial meltdown". The Times. 2 May 2023. Retrieved 2 May 2023.
- ^ "Little green left at troubled London Irish". Irish Times. 5 May 2023. Retrieved 5 May 2023.
- ^ "Premiership club given 30 May sale deadline or risk suspension". BBC.
- ^ "London Irish crisis deepens after winding-up petition issued against club". The Irish Times.
- ^ "London Irish served winding-up petition over unpaid tax bill". 26 June 2023.
- ^ "Little green left at troubled London Irish". Irish Times. 5 May 2023. Retrieved 5 May 2023.
- ^ Palmer, Bryn (16 May 2009). "Leicester 10–9 London Irish". BBC News.
- ^ "London Irish 15–21 Toulouse". BBC News. 26 April 2008.
- ^ "London Irish suspended from Gallagher Premiership and all leagues by RFU due to financial issues". Sky Sports. Retrieved 6 June 2023.