The Rugby Football Union has granted a one-week extension to London Irish to complete their takeover.
Players and staff at the club requested the extension despite only receiving 50% of their May salaries.
The Exiles now have until 16:00 BST on Tuesday, 6 June to complete the takeover process or prove they can fund the club’s operating costs for the entire 2023-24 season.
If they fail to do so, they risk being suspended from the Premiership.
The update comes after a meeting of the RFU’s Club Financial Viability Working Group on Wednesday evening.
Chair of the group and RFU board member Paula Carter said: “It is deeply frustrating for all the staff, players and fans that there have been months of multiple missed deadlines.
“We are extremely disappointed that the club has so far only funded 50% of the staff and player wages, however, we have to respect the wishes of those most affected.
“The 4pm deadline on 6 June is final and we have added the stipulation that the club must also fulfil its contractual obligations to its employees by paying the May salaries in full.”
The Rugby Players’ Association echoed the disappointment of the RFU, but acknowledged that “the wishes of the London Irish player group have been respected”.
“We have remained reasonable throughout this period in light of the various assurances that have been given to both the players and ourselves, and have given the club and its owner every opportunity to complete the necessary work,” it added.
“We now urge all parties concerned to complete the necessary work by the June 6th deadline as set out by the RFU.”
