Wasps have been suspended from the Premiership and Premiership Rugby Cup for the rest of the season, the RFU has confirmed.
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.
Six-time champions of England and twice winners of the European Cup, Wasps went into administration on 17 October, having been initially suspended from the Premiership by the RFU a few days before.
A total of 167 players and club staff were made redundant.
This Sunday’s game against Newcastle Falcons was listed as cancelled, but now all of their fixtures moving forward will be removed from the schedule.
The decision was confirmed by the RFU’s club financial viability group, although Wasps have the right of appeal if they can show it was a no-fault insolvency.
In a statement, the group said it was “encouraged by the progress made by the administrators and it has taken the decision to suspend the team in order to support the prospect of securing a deal with the right investor and giving the club the best chance for a long term sustainable future”.
It added: “Any potential investors and management will require due diligence and approvals from the RFU and PRL. A condition of any potential deal will include a requirement for the payment of all rugby creditors.”
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