"Within days" - Premiership clubs takeover will be COMPLETE next week

Wednesday, 29 March 2023 at 19:03

byRugby Rucker

An American fund is set to acquire London Irish next week, and has arranged for the transfer of funds to cover player and staff salaries on Friday.

According to the Mail online, there were concerns that Exiles employees may not receive their wages during the club's buyout process.

However, according to a report from Mail Online, the US investors have intervened to cover the March payroll.

Sources familiar with the deal state that all terms have been agreed upon between Mick Crossan and the new investors, and the acquisition is expected to be officially signed off in the coming days.

Regulatory approval is the only remaining hurdle, but it is not expected to pose a problem.

LONDON IRISH STATEMENT:

London Irish responded to the following story with this statement: “It has been public knowledge that the Club is exploring its options with regards to investment, however no comment will be made until there is anything to announce.

“In regards to recent media reports, London Irish can categorically confirm that all staff will be paid this month. Anything reported to the contrary is pure speculation.”

PREMIERSHIP CLUBS RANKED BY TOTAL DEBT:

#13. Exeter Chiefs - £13m

#12. Gloucester - £27m

#11. Northampton Saints £26.5m

#10. Worcester Warriors - £26.5m

Worcester Warriors flags fly in support of the club as they go through difficult times. during the Gallagher Premiership Rugby Match between Worcester Warriors and Exeter Chiefs at Sixways on 18 Sept 2022 Photo: Phil Mingo/PPAUK

#9. Sale Sharks - £30.9m

#8. Leicester Tigers - £31m

Guy Porter of Leicester Tigers during the Gallagher Premiership Rugby Semi Final Match between Leicester Tigers and Northampton Saints at Mattioli Woods Welford Road on 11 June. Photo: Tom Sandberg/PPAUK