London Welsh have confirmed that the club is set to be sold to a Californian investment group after avoiding a winding-up order in the High Court yesterday.
During a brief hearing, officials from HM Revenue & Customs were advised that the club’s outstanding bill had been paid in full, while a statement confirmed that the Richmond-based outfit is hopeful of moving forward under new owners, subject to Rugby Football Union approval.
Chairman Bleddyn Phillips said: “We are thrilled and very excited to be able to announce the arrival of a new owner which will provide the club with the financial strength to sustain its ambition to be not only a competitive rugby team playing in the top tiers of the game in the United Kingdom, but, equally importantly, to consolidate and enhance its social, community and amateur-based activities at its spiritual home at Old Deer Park.:
London Welsh were a Premiership side as recently as 2015, but finished bottom of the table after losing all 22 matches.
The club recently returned to their home at Old Deer Park after spending three years playing their matches at the Kassam Stadium in Oxford.