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London Irish owner Mick Crossan has criticised the governing bodies in England after the club filed for administration on Wednesday.
The Exiles were suspended from competitions in England on Tuesday after a proposed takeover failed to be completed by the 4pm deadline.
Crossan stated that administration was a “last resort” but that it was the only option available to them.
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He also criticised the RFU, whose chair Tom Ilube suggested on Tuesday that Worcester Warriors, Wasps and Irish had “failing business models”.
Radically transformed
“The comments from the RFU chair, Tom Ilube, completely overlook the precarious situation other clubs are currently in,” Crossan said in a statement.
“Collectively, owners of clubs are working very hard to transform their models, but the lack of real support, at times, is non-existent.
“It speaks volumes that Ralph Rimmer and Chris Pilling have been appointed by the Government as independent advisers to work on the future stability of rugby union in the UK.
“The professional game in this country needs to be radically transformed. And the current leadership must urgently review its practices from top to bottom if it has a desire to see professional rugby continue in England.”
London Irish became the third club in England’s Premiership to be suspended over the past few months due to financial issues, following on from Worcester and Wasps.
Crossan added: “We have worked tirelessly over the last few years to develop a more sustainable business model, trying to tap into the Irish community, developing new revenue streams, investing in our fantastic academy to develop future stars, and of course bringing the club back to its spiritual home in West London after 20 years away.
“However, the reality is that professional rugby in this country is going through a hugely challenging time and after a decade of supporting the club financially, it is not feasible for me to continue absorbing the multi-million-pound losses of the club each year, indefinitely.
“Administration has always been the last resort, and something we hoped we could avoid. And we bitterly regret the difficulties it will present to each and every one of you.”
Assurances
The Exiles’ owner insisted that the assurances received from the interested American consortium “were not hollow” but that the “promises have failed to materialise.”
“As we neared the completion of the deal, I continually received promises, from both NUE Equity and Redstrike, that the acquisition would be completed imminently, and that funds would arrive within days,” Crossan claimed.
“Right up to (Tuesday’s) final deadline, we continued to receive verbal assurances from the group.
“I have trusted that these were not hollow promises and agreed to financially support the club throughout to ensure it could finish the season and give the group time to conclude the deal.
“Sadly, the promises have failed to materialise, and, despite our very best efforts, it was not possible to meet the conditions set by the RFU Club Financial Viability Group (on Tuesday afternoon).
“Its subsequent disappointing decision to force our suspension has proved the tipping point where we will not be able to meet our current and future financial obligations.
“And after assessing our options (on Tuesday night), we agreed that administration offered the safest path forward for the club.”