Wasps have been placed into administration and immediately ceased trading, forcing their 167 employees in redundancy.

Wasps, one of only four ever-present teams in the Premiership, were last week suspended from the league, only a week after Worcester Warriors were wound up.

Former Premiership and European champions Wasps had been due to repay £35m in May from a bond scheme used to help finance their relocation from London to Coventry and purchase a lease on their stadium.

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