Premiership clubs rack up more than £500MILLION in debt amid English rugby financial crisis

The financial crisis facing English rugby has been laid bare. Premiership clubs have racked up debts of more than £500m. London Irish, Newcastle and Wasps have all admitted fears over whether they can continue to operate as viable businesses. Sports finance experts say problems predate the pandemic and warned that clubs could go under without radical changes. Worcester Warriors are facing a winding-up petition over an unpaid £6m tax bill. The clubs’ combined total debt is £509m, with a combined net debt of £105m after assets were taken into account. Wasens have built up the biggest gross debt at £112.3m and Bristol”s figure of $51m; Newcastle at $39m while Exeter and wasps both posted operating losses of around £8m in the most recent financial year.