London Welsh Rugby Football Club has entered administration after announcing yesterday that it has insufficient funds to operate for longer than another month.
The club said it is hoping to generate an additional £1.5 million of investment a season in order to continue its three-year plan to reach the Premiership. The club currently has debts of around £1.8 million and annual running costs of £2.5 million.
Kelvin Byron, who runs Basildon Chemicals, has invested around £1.3 million of his own money into the club currently playing in English rugby's second tier Championship.
“London Welsh is within striking distance of the elite level of English rugby but I am unable to continue being the principal investor of the club,” said London Welsh chairman Kelvin Byron in a statement. “To continue and achieve our dream of reaching the Premiership, we need other investors to step forward to join us on our exciting journey.”
London Welsh was founded in 1885 and has had 177 Welsh international and 43 British Lion representatives.
