Jersey Reds set to go into liquidation after failing to secure a bail out

The club said it was 'bitterly disappointed' after politicians turned down a proposal to provide more funding for the club Credit: ITV Channel

Jersey Reds are set to go into liquidation after politicians rejected a proposal to bail out the collapsed club.

In a statement the Reds said they were "bitterly disappointed" in the decision taken by the States but "hardly surprised".

"We are proud of what the Reds achieved over the years in consistently difficult circumstances." it continued.

"The opportunity to support a valuable asset has been let slip and the Island will be the lesser for it."

The club also thanked Deputy Lyndon Farnham for his attempt to secure additional public funding for the Reds.

The statement said that in light of the States' decision and no alternative investors stepping in "we now have no option no but to move our trading vehicle into liquidation."

The Jersey Reds are the fourth professional league club to collapse in a year. Premiership sides Worcester, Wasps and London Irish have all folded.

Details of the liquidation process are set to be announced soon.

Want to find out more about the stories making the headlines? Don't miss Channelcast - the Channel Islands current affairs podcast: