Wasps Netball are facing an "unprecedented" situation after their holding company went into administration, the Netball Players Association (NPA) said on Monday.
Wasps Holdings Limited enterered administration on Monday, making 167 employees redundant, including players and coaching staff.
The company owns the men's and women's rugby teams, as well as the Wasps netball team.
"Wasps Holdings Limited was placed into Administration on 17 October 2022 and immediately ceased to trade," Wasps said in a statement.
"The affairs, business and property [...] are being managed by Andrew Martin Sheridan and Rajnesh Mittal of FRP who were appointed Joint Administrators. The Joint Administrators act as agents of the Company and without personal liability."
Joint Administrator Sheridan said: "Our immediate focus is on supporting those who have lost their jobs this morning. This will be an incredibly challenging time for every individual, and we will be assisting them in making claims to the redundancy payments service."
The NPA said that for the Wasps' netball club, the impact is "yet to be fully understood."
Wasps won the Super League title in their debut season in 2017, and again in 2018.
"This is unprecedented in our sport and we will learn and adapt to give the best support that we can," the NPA said in a statement.
"We will continue conversations with England Netball and the wider netball community to try and find solutions for players where we can, and provide them with the individual support they may need in the coming weeks and months.
"All NPA members at Wasps have been contacted over the last few days and we will continue to offer them support."
England Netball, the sport's governing body, said: "We had sincerely hoped that an appropriate solution could have been found to ensure the survival of Wasps Holdings Limited, and whilst we process exactly what this news means for the future of Wasps Netball, our thoughts are with the club, its players and their wider support team during this incredibly difficult time.
"We will continue to work together with all relevant parties including the Netball Players Association, and are committed to exploring solutions to protect netball opportunities at community, pathway and elite level."
Information from Reuters contributed to this report.