The RFU has confirmed that Wasps have been suspended from the Premiership and Premiership Rugby Cup for the rest of the season.
The Coventry-based club will be relegated from the top tier and their results from this season expunged.
If suitable investment can be found, Wasps will begin next season in the Championship.
After the demise of Worcester Warriors last month, only 11 clubs will contest the rest of the Premiership season.
More to follow.
