"Only a matter of time' until Premiership club goes bust says administrator
Today at 11:49 AM
Premiership Rugby is standing on the edge of financial disaster, with London Irish administrator Lee Manning warning that it's only “a matter of time” before another club goes under.
London Irish became the third top-flight team in less than a year to go bust, following the collapses of Worcester Warriors and Wasps. Now, Manning has told Sky Sports that the league's financial model is broken beyond repair.
“It Only Takes One More Club to Fail”
Manning, of Evelyn Partners, painted a bleak picture of the Premiership's future:
“There are only 10 teams left. We’ve already lost Worcester, Wasps, and London Irish, and they're not exactly queuing up to return.
“If one more club goes under—maybe two—then what happens to the league? Where's the viability? Where's the attraction?”
The financial numbers are staggering. In the 2022/23 season:
- Not a single Premiership club made a profit.
- The smallest loss was Gloucester at £550,000.
- Seven out of the 10 clubs have negative balance sheets.
- Bristol Bears are in the worst shape, with a £34m deficit.
- Only Northampton, Harlequins, and Gloucester have positive balance sheets.
With no clear path to profitability, Manning believes further financial collapse is inevitable:
“Unless the game’s financial model is radically changed, it’s just a matter of time.”
London Irish to the URC?
There have been whispers that London Irish could look to join the URC, competing alongside clubs from Ireland, Scotland, Wales, Italy, and South Africa. The idea of relocating to Ireland has even been floated, but regulatory red tape from the RFU could make any comeback impossible.
Manning slammed the RFU's handling of insolvency, calling it “unfair” and “destructive”:
“Someone has to pay £2.7m to creditors, buy the club, sit out an entire season, and still start in the Championship. Actually, no—worse.
‘The club hasn't played, so it's relegated again.’
That was the RFU's response. My face dropped, as you can imagine.”
A System That “Stifles Rejuvenation”
Manning didn't hold back, arguing that the RFU's strict rules kill any hope of revival:
“How can anyone justify spending millions, waiting a year, and then starting in League One with zero income? It's unfair. It stifles rejuvenation. It punishes those who try to save a club.”
With 10 clubs left and financial turmoil worsening, the question isn't if another Premiership club will collapse—it's when.
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NIGEL OWENS: MY TOP 5 CAPTAINS
Get ready for a surprising revelation from renowned rugby referee Nigel Owens, as he unveils his list of the top five captains he has officiated.
#5. Chris Robshaw (England)
The flanker is a former English rugby union player who captained the national team from 2012 to 2015.
Known for his exceptional work rate and leadership skills, Robshaw was a dynamic flanker who made a significant impact on the field. He enjoyed a successful club career with Harlequins, where he played for over a decade. Robshaw’s dedication and commitment to the sport earned him numerous accolades and the respect of his peers.
Off the field, he is admired for his philanthropic efforts, using his platform to support various charitable causes.
Owens said: “Some people will be surprised at this one to start off. His misfortune was perhaps to be leading England during a difficult time, but he always gave everything for the cause, encouraging others to follow suit, and he was a nice guy off the pitch.”
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