The clubs met to consider the Broncos' financial problems and agreed a plan that allowed the capital city club to continue on conditions that will apply for the next two years.
Broncos have been at the forefront of the game’s development in London for many years and it importance was attached to supporters and sponsors of the sport in that area.
Part of the plan will see the club agree to a number of conditions concerning their future financial and business management.
A new controlling company has been formed and the Bronco’s playing staff will be transferred to that company. The management will also be required to place a substantial financial bond with the Rugby Football League (RFL).
The RFL has also announced that it is to review its rules concerning clubs who undertake acts of insolvency.
Nigel Wood, the RFL’s chief operating officer, said: “While London Broncos are undoubtedly relieved to have been saved, it cannot be allowed to mask the very serious issue that this unacceptable episode has raised.
“I fully expect the RFL to review its rules concerning circumstances such as these and make appropriate recommendations for the future.
“Perhaps we can learn something from other sports, particularly as regards the sanctions and penalties that maybe available to ensure that defaulting clubs are not seen to have gained a competitive advantage as a consequence of their actions.”
