England’s Rugby Elite Have Lost Control of Their Finances
- Wasps, Worcester Warriors have filed for administration
- Firm invested £200 million, but teams still struggling
The insolvencies of Wasps and Worcester illustrate the financial difficulties facing rugby’s elite.
Photographer: David Rogers/Getty Images
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When CVC Capital Partners announced a £200 million ($227 million) investment into England’s biggest rugby competition in 2018, it was billed as a transformative deal that would help accelerate the league’s growth.
But over the past few weeks, two of the country’s biggest clubs, Wasps and Worcester Warriors have gone bankrupt, wiping out hundreds of jobs and leaving the league in turmoil.