The Aviva Premiership club have been looking for a new owner since last July, when Wycombe council withdraw its support for the construction of a new stadium.

In February, Wasps were at "advanced stages of discussions" with four interested parties but those talks have now stalled.

A Wasps statement said on Tuesday: "The board is disappointed to confirm that negotiations, which had been leading towards an imminent takeover of the club, have stalled.

"The board, having taken independent advice, is able to confirm that London Wasps Holdings Limited remains nevertheless a going concern.

"However, the board acknowledges the urgency of the current situation surrounding the club.

"There are on-going active discussions with other potential investors but the club is seeking, using all best endeavours, further expressions of interest."

Support

Premiership Rugby chief executive Mark McCafferty pledged the organisation's full support for Wasps.

"It would be unhelpful to speculate about that (administration) at this point," McCafferty said.

"We understand that London Wasps are doing everything they can to avoid this situation and are actively seeking investment as a matter of urgency.

"It is well known that London Wasps were seeking new investment and despite moving to advanced stages of completing a sale the negotiations have stalled.

"London Wasps are looking for alternative approaches and we're doing everything we can to help."